Intech Investment Management LLC Has $5.91 Million Holdings in Copart, Inc. (NASDAQ:CPRT)

Intech Investment Management LLC lessened its stake in Copart, Inc. (NASDAQ:CPRT) by 28.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 112,683 shares of the business services provider’s stock after selling 45,819 shares during the quarter. Intech Investment Management LLC’s holdings in Copart were worth $5,905,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in CPRT. Optimum Investment Advisors increased its holdings in shares of Copart by 141.5% in the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after acquiring an additional 300 shares in the last quarter. Eastern Bank acquired a new stake in Copart during the third quarter worth approximately $29,000. Crewe Advisors LLC raised its stake in Copart by 98.6% in the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock worth $31,000 after purchasing an additional 280 shares in the last quarter. Meeder Asset Management Inc. raised its stake in Copart by 283.3% in the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 425 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in shares of Copart by 477.7% during the 2nd quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock worth $32,000 after acquiring an additional 492 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CPRT has been the subject of several analyst reports. Robert W. Baird dropped their price target on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. JPMorgan Chase & Co. upped their price objective on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday.

Copart Trading Up 10.2 %

NASDAQ CPRT opened at $62.70 on Friday. Copart, Inc. has a 12 month low of $46.21 and a 12 month high of $62.90. The stock has a market cap of $60.40 billion, a P/E ratio of 44.15 and a beta of 1.27. The stock’s fifty day moving average price is $53.79 and its 200-day moving average price is $53.21.

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