Pittenger & Anderson Inc. Acquires 25,826 Shares of Copart, Inc. (NASDAQ:CPRT)

Pittenger & Anderson Inc. increased its stake in Copart, Inc. (NASDAQ:CPRT) by 52.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 75,093 shares of the business services provider’s stock after purchasing an additional 25,826 shares during the period. Pittenger & Anderson Inc.’s holdings in Copart were worth $3,935,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CPRT. Optimum Investment Advisors raised its position 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 valued at $27,000 after buying an additional 300 shares in the last quarter. Eastern Bank bought a new position in Copart in the third quarter valued at $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 valued at $31,000 after purchasing an additional 280 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in Copart by 283.3% during the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock worth $31,000 after purchasing an additional 425 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in Copart by 477.7% during the second quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock worth $32,000 after purchasing an additional 492 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Stock Performance

CPRT stock opened at $52.71 on Tuesday. The firm has a market cap of $50.78 billion, a P/E ratio of 37.73 and a beta of 1.27. The firm’s fifty day moving average is $52.26 and its 200 day moving average is $52.99. Copart, Inc. has a 52 week low of $45.50 and a 52 week high of $58.58.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share (EPS) 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 net margin of 32.17% and a return on equity of 19.55%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.34 earnings per share. As a group, analysts forecast that Copart, Inc. will post 1.54 EPS for the current year.

Wall Street Analyst Weigh In

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

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.