Meeder Advisory Services Inc. Grows Position in Copart, Inc. (NASDAQ:CPRT)

Meeder Advisory Services Inc. boosted its holdings in Copart, Inc. (NASDAQ:CPRT) by 12.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,648 shares of the business services provider’s stock after buying an additional 2,021 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Copart were worth $925,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CPRT. Optimum Investment Advisors grew its stake 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 purchasing an additional 300 shares during the period. Eastern Bank purchased a new position in shares of Copart in the third quarter worth approximately $29,000. Crewe Advisors LLC grew 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 buying an additional 280 shares during the period. Meeder Asset Management Inc. increased its holdings in Copart by 283.3% during the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after buying an additional 425 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in Copart by 477.7% in the second quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock worth $32,000 after acquiring an additional 492 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on CPRT shares. Robert W. Baird reduced their price objective on Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. JPMorgan Chase & Co. upped their price target on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday.

Copart Stock Performance

CPRT opened at $56.52 on Wednesday. The stock has a market cap of $54.45 billion, a price-to-earnings ratio of 40.66 and a beta of 1.27. The firm’s fifty day moving average is $53.27 and its 200 day moving average is $53.12. Copart, Inc. has a fifty-two week low of $46.21 and a fifty-two week high of $58.58.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 EPS 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 analysts’ expectations of $1.07 billion. Copart had a net margin of 32.17% and a return on equity of 19.55%. Copart’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.34 earnings per share. On average, equities research analysts predict 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.