Copart, Inc. (NASDAQ:CPRT) Shares Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. increased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 0.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 170,218 shares of the business services provider’s stock after acquiring an additional 946 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Copart were worth $8,919,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Optimum Investment Advisors raised its stake in shares of Copart by 141.5% during the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after buying an additional 300 shares during the last quarter. Eastern Bank acquired a new position in Copart during the third quarter worth about $29,000. Crewe Advisors LLC raised its position in Copart by 98.6% during the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock worth $31,000 after acquiring an additional 280 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of 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 grew its position in shares of Copart by 477.7% in the second quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 492 shares during the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Copart Trading Up 1.3 %

Copart stock opened at $57.93 on Thursday. The stock has a 50-day moving average price of $52.69 and a 200 day moving average price of $53.08. Copart, Inc. has a 52 week low of $46.21 and a 52 week high of $58.58. The stock has a market cap of $55.81 billion, a PE ratio of 41.68 and a beta of 1.27.

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 analysts’ consensus estimates of $0.36 by ($0.03). The firm had revenue of $1.07 billion for 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% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 earnings per share. On average, equities analysts predict that Copart, Inc. will post 1.54 EPS 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.