CIBC Asset Management Inc Buys 15,577 Shares of Copart, Inc. (NASDAQ:CPRT)

CIBC Asset Management Inc grew its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 5.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 288,490 shares of the business services provider’s stock after acquiring an additional 15,577 shares during the period. CIBC Asset Management Inc’s holdings in Copart were worth $15,117,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Copart by 2.4% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 9,054 shares of the business services provider’s stock worth $524,000 after buying an additional 209 shares during the period. Twin Tree Management LP bought a new position in Copart during the 1st quarter worth about $3,877,000. Nwam LLC purchased a new position in Copart during the 1st quarter valued at about $224,000. Edgestream Partners L.P. bought a new stake in shares of Copart in the 1st quarter valued at about $644,000. Finally, Jacobi Capital Management LLC lifted its position in shares of Copart by 9.4% in the 1st quarter. Jacobi Capital Management LLC now owns 4,782 shares of the business services provider’s stock worth $277,000 after purchasing an additional 410 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analysts Set New Price Targets

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

Copart Price Performance

CPRT opened at $56.67 on Friday. The firm has a market capitalization of $54.59 billion, a PE ratio of 40.77 and a beta of 1.27. The business’s 50-day moving average is $52.99 and its two-hundred day moving average is $53.11. Copart, Inc. has a 1 year low of $46.21 and a 1 year high of $58.58.

Copart (NASDAQ:CPRT) last announced its 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 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 firm’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. As a group, sell-side analysts expect 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.