Quantbot Technologies LP Makes New Investment in Copart, Inc. (NASDAQ:CPRT)

Quantbot Technologies LP bought a new position in Copart, Inc. (NASDAQ:CPRT) in the 3rd quarter, Holdings Channel reports. The fund bought 77,621 shares of the business services provider’s stock, valued at approximately $4,067,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CPRT. Bowie Capital Management LLC boosted its position in shares of Copart by 14.0% during the 3rd quarter. Bowie Capital Management LLC now owns 1,810,210 shares of the business services provider’s stock valued at $94,855,000 after acquiring an additional 222,667 shares during the last quarter. DRW Securities LLC bought a new position in shares of Copart during the 3rd quarter valued at approximately $448,000. Harvest Fund Management Co. Ltd boosted its position in shares of Copart by 12.5% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 44,339 shares of the business services provider’s stock valued at $2,323,000 after acquiring an additional 4,926 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Copart by 9.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 229,882 shares of the business services provider’s stock valued at $12,046,000 after acquiring an additional 18,923 shares during the last quarter. Finally, Centaurus Financial Inc. raised its holdings in Copart by 20.7% during the 3rd quarter. Centaurus Financial Inc. now owns 22,117 shares of the business services provider’s stock valued at $1,159,000 after buying an additional 3,800 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CPRT. JPMorgan Chase & Co. increased their price target on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Robert W. Baird decreased their price target on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th.

Copart Stock Up 0.1 %

CPRT stock opened at $63.80 on Wednesday. The business’s fifty day simple moving average is $54.07 and its two-hundred day simple moving average is $53.24. Copart, Inc. has a twelve month low of $46.21 and a twelve month high of $64.19. The firm has a market cap of $61.46 billion, a price-to-earnings ratio of 44.93 and a beta of 1.27.

Copart (NASDAQ:CPRT) last released its earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Copart had a return on equity of 18.96% and a net margin of 31.92%. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the business earned $0.34 EPS. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Research analysts expect that Copart, Inc. will post 1.55 EPS for the current 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.