Copart, Inc. (NASDAQ:CPRT) Shares Purchased by Meeder Asset Management Inc.

Meeder Asset Management Inc. boosted its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 15,096.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 87,380 shares of the business services provider’s stock after acquiring an additional 86,805 shares during the quarter. Meeder Asset Management Inc.’s holdings in Copart were worth $4,579,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Silvercrest Asset Management Group LLC increased its position in shares of Copart by 40.6% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 37,962 shares of the business services provider’s stock worth $2,199,000 after purchasing an additional 10,959 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Copart during the second quarter valued at about $109,382,000. Edgestream Partners L.P. purchased a new stake in shares of Copart in the 1st quarter valued at approximately $644,000. Comerica Bank lifted its holdings in shares of Copart by 5.9% in the 1st quarter. Comerica Bank now owns 336,206 shares of the business services provider’s stock worth $19,473,000 after acquiring an additional 18,605 shares during the last quarter. Finally, Cetera Investment Advisers boosted its position in shares of Copart by 162.9% during the 1st quarter. Cetera Investment Advisers now owns 184,417 shares of the business services provider’s stock worth $10,681,000 after purchasing an additional 114,263 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

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

Copart Price Performance

Shares of Copart stock opened at $56.63 on Tuesday. The stock has a market capitalization of $54.56 billion, a price-to-earnings ratio of 40.74 and a beta of 1.27. The business has a 50-day moving average of $53.13 and a 200 day moving average of $53.11. Copart, Inc. has a 12 month low of $46.21 and a 12 month high of $58.58.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data 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 net margin of 32.17% and a return on equity of 19.55%. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the business posted $0.34 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts anticipate that Copart, Inc. will post 1.54 earnings per share for the current 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.