ICICI Prudential Asset Management Co Ltd Purchases 1,991 Shares of Copart, Inc. (NASDAQ:CPRT)

ICICI Prudential Asset Management Co Ltd boosted its position in Copart, Inc. (NASDAQ:CPRT) by 18.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,562 shares of the business services provider’s stock after purchasing an additional 1,991 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in Copart were worth $658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Cadence Bank grew its holdings in shares of Copart by 0.6% during the first quarter. Cadence Bank now owns 31,371 shares of the business services provider’s stock worth $1,817,000 after purchasing an additional 187 shares in the last quarter. WASHINGTON TRUST Co increased its holdings in shares of Copart by 0.3% in the 2nd quarter. WASHINGTON TRUST Co now owns 61,852 shares of the business services provider’s stock worth $3,350,000 after buying an additional 200 shares during the last quarter. Spinnaker Trust raised its position in shares of Copart by 4.0% during the 2nd quarter. Spinnaker Trust now owns 5,222 shares of the business services provider’s stock valued at $283,000 after buying an additional 200 shares in the last quarter. Values First Advisors Inc. lifted its holdings in shares of Copart by 2.9% during the 2nd quarter. Values First Advisors Inc. now owns 7,098 shares of the business services provider’s stock worth $384,000 after acquiring an additional 201 shares during the last quarter. Finally, Duncan Williams Asset Management LLC lifted its holdings in shares of Copart by 1.3% during the 3rd quarter. Duncan Williams Asset Management LLC now owns 15,437 shares of the business services provider’s stock worth $809,000 after acquiring an additional 203 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Robert W. Baird cut their target price on Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th.

Copart Trading Up 0.9 %

NASDAQ CPRT traded up $0.52 on Wednesday, hitting $57.70. The company’s stock had a trading volume of 467,071 shares, compared to its average volume of 4,391,738. The firm has a market cap of $55.59 billion, a P/E ratio of 41.37 and a beta of 1.27. Copart, Inc. has a 52-week low of $46.21 and a 52-week high of $58.58. The company’s 50-day simple moving average is $52.59 and its 200 day simple moving average is $53.04.

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

About Copart

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.