Mediolanum International Funds Ltd Purchases 33,159 Shares of Copart, Inc. (NASDAQ:CPRT)

Mediolanum International Funds Ltd boosted its position in Copart, Inc. (NASDAQ:CPRT) by 15.8% during the third quarter, HoldingsChannel.com reports. The fund owned 242,396 shares of the business services provider’s stock after buying an additional 33,159 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Copart were worth $12,598,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Cadence Bank increased its stake in Copart by 0.6% in the first quarter. Cadence Bank now owns 31,371 shares of the business services provider’s stock valued at $1,817,000 after acquiring an additional 187 shares during the last quarter. WASHINGTON TRUST Co boosted its position in Copart by 0.3% in the second quarter. WASHINGTON TRUST Co now owns 61,852 shares of the business services provider’s stock valued at $3,350,000 after buying an additional 200 shares in the last quarter. Spinnaker Trust boosted its position in Copart by 4.0% in the second quarter. Spinnaker Trust now owns 5,222 shares of the business services provider’s stock valued at $283,000 after buying an additional 200 shares in the last quarter. Values First Advisors Inc. boosted its position in Copart by 2.9% in the second quarter. Values First Advisors Inc. now owns 7,098 shares of the business services provider’s stock valued at $384,000 after buying an additional 201 shares in the last quarter. Finally, Duncan Williams Asset Management LLC boosted its position in Copart by 1.3% in the third quarter. Duncan Williams Asset Management LLC now owns 15,437 shares of the business services provider’s stock valued at $809,000 after buying an additional 203 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Copart Price Performance

Shares of Copart stock opened at $51.71 on Friday. Copart, Inc. has a fifty-two week low of $42.41 and a fifty-two week high of $58.58. The firm has a market capitalization of $49.76 billion, a P/E ratio of 36.42 and a beta of 1.27. The company’s 50 day moving average price is $52.30 and its two-hundred day moving average price is $53.15.

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 business had revenue of $1.07 billion for 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 revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 EPS. On average, analysts expect that Copart, Inc. will post 1.54 earnings per share 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.