ING Groep NV Boosts Stake in Copart, Inc. (NASDAQ:CPRT)

ING Groep NV increased its holdings in Copart, Inc. (NASDAQ:CPRT) by 18.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 367,296 shares of the business services provider’s stock after buying an additional 57,498 shares during the period. ING Groep NV’s holdings in Copart were worth $19,246,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CPRT. Principal Financial Group Inc. raised its stake in shares of Copart by 2.5% in 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 acquiring an additional 941,858 shares during the period. Bank of New York Mellon Corp lifted 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 worth $867,017,000 after purchasing an additional 1,199,781 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of 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 valued at $376,035,000 after acquiring an additional 598,566 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Copart by 28.0% during the first 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 purchasing an additional 1,500,466 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird lowered their price objective on shares of 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 Down 1.0 %

Shares of CPRT opened at $57.34 on Friday. Copart, Inc. has a 12 month low of $46.21 and a 12 month high of $58.58. The firm has a market cap of $55.24 billion, a PE ratio of 41.25 and a beta of 1.27. The stock has a fifty day moving average price of $52.84 and a 200-day moving average price of $53.11.

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