Quest Partners LLC Makes New Investment in Copart, Inc. (NASDAQ:CPRT)

Quest Partners LLC bought a new position in Copart, Inc. (NASDAQ:CPRT) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,180 shares of the business services provider’s stock, valued at approximately $848,000.

A number of other hedge funds also recently made changes to their positions in CPRT. Principal Financial Group Inc. raised its stake in shares of Copart by 2.5% during the third quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock valued at $2,037,130,000 after purchasing an additional 941,858 shares during the period. Bank of New York Mellon Corp boosted its stake in Copart by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider’s stock valued at $867,017,000 after acquiring an additional 1,199,781 shares during the period. Massachusetts Financial Services Co. MA increased its position in Copart by 0.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,898,956 shares of the business services provider’s stock worth $427,807,000 after buying an additional 30,454 shares during the period. Legal & General Group Plc grew its position in Copart by 9.4% in the 2nd quarter. Legal & General Group Plc now owns 6,943,042 shares of the business services provider’s stock worth $376,035,000 after purchasing an additional 598,566 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Copart by 28.0% in 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 buying an additional 1,500,466 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Trading Up 2.8 %

NASDAQ CPRT opened at $56.97 on Friday. Copart, Inc. has a 1 year low of $46.21 and a 1 year high of $58.58. The company has a market cap of $54.88 billion, a PE ratio of 40.98 and a beta of 1.27. The stock’s 50-day moving average price is $53.54 and its two-hundred day moving average price is $53.16.

Copart (NASDAQ:CPRT) last issued its quarterly 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 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 analysts’ expectations of $1.07 billion. During the same quarter last year, the company posted $0.34 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. Research analysts forecast that Copart, Inc. will post 1.54 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CPRT has been the subject of a number of research analyst reports. 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 report on Thursday, September 5th. JPMorgan Chase & Co. upped their price target on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday.

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.