Charles Schwab Investment Management Inc. Buys 76,908 Shares of Copart, Inc. (NASDAQ:CPRT)

Charles Schwab Investment Management Inc. grew its position in Copart, Inc. (NASDAQ:CPRT) by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,267,339 shares of the business services provider’s stock after purchasing an additional 76,908 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.55% of Copart worth $276,009,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Optimum Investment Advisors raised its holdings in Copart by 141.5% in the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after acquiring an additional 300 shares during the period. Eastern Bank bought a new position in shares of Copart in the third quarter worth about $29,000. Crewe Advisors LLC lifted its position in shares of Copart by 98.6% during the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock worth $31,000 after purchasing an additional 280 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in Copart by 283.3% during the 2nd 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 during the period. Finally, Versant Capital Management Inc grew its holdings in Copart by 477.7% in the 2nd quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock valued at $32,000 after buying an additional 492 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Trading Up 10.2 %

CPRT opened at $62.70 on Friday. The stock’s 50 day simple moving average is $53.79 and its 200-day simple moving average is $53.21. The stock has a market cap of $60.40 billion, a PE ratio of 44.15 and a beta of 1.27. Copart, Inc. has a 1 year low of $46.21 and a 1 year high of $62.90.

Copart (NASDAQ:CPRT) last announced 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). Copart had a net margin of 32.17% and a return on equity of 19.55%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the firm earned $0.34 EPS. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities analysts forecast that Copart, Inc. will post 1.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CPRT shares. JPMorgan Chase & Co. raised their price objective on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday. Robert W. Baird dropped 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.

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.