Clarus Group Inc. Buys 5,577 Shares of Copart, Inc. (NASDAQ:CPRT)

Clarus Group Inc. increased its stake in Copart, Inc. (NASDAQ:CPRT) by 53.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 15,919 shares of the business services provider’s stock after purchasing an additional 5,577 shares during the quarter. Clarus Group Inc.’s holdings in Copart were worth $834,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Manning & Napier Advisors LLC purchased a new position in Copart during the 2nd quarter worth $109,382,000. Price T Rowe Associates Inc. MD boosted its holdings in Copart by 28.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,861,282 shares of the business services provider’s stock worth $397,406,000 after acquiring an additional 1,500,466 shares during the last quarter. TD Asset Management Inc boosted its holdings in Copart by 43.3% during the 1st quarter. TD Asset Management Inc now owns 4,862,147 shares of the business services provider’s stock worth $281,616,000 after acquiring an additional 1,469,292 shares during the last quarter. Kimelman & Baird LLC purchased a new position in Copart during the 2nd quarter worth $70,307,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Copart by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider’s stock worth $867,017,000 after buying an additional 1,199,781 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Robert W. Baird cut their price target on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th.

Copart Trading Down 1.9 %

Shares of NASDAQ:CPRT traded down $1.01 during midday trading on Monday, reaching $52.87. The company had a trading volume of 1,868,220 shares, compared to its average volume of 4,491,455. Copart, Inc. has a 52-week low of $42.41 and a 52-week high of $58.58. The company’s 50 day moving average price is $52.22 and its 200 day moving average price is $53.29. The stock has a market cap of $50.88 billion, a P/E ratio of 37.94 and a beta of 1.27.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Copart had a net margin of 32.17% and a return on equity of 19.55%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the firm posted $0.34 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. Research analysts forecast that Copart, Inc. will post 1.54 EPS for the current fiscal year.

Copart Company Profile

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.