Davidson Capital Management Inc. Has $3.24 Million Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Davidson Capital Management Inc. increased its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 25.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 59,736 shares of the business services provider’s stock after buying an additional 11,978 shares during the period. Copart makes up 1.0% of Davidson Capital Management Inc.’s holdings, making the stock its 23rd biggest holding. Davidson Capital Management Inc.’s holdings in Copart were worth $3,235,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. lifted its position in shares of Copart by 2.6% during the first quarter. Principal Financial Group Inc. now owns 39,232,895 shares of the business services provider’s stock worth $2,272,369,000 after purchasing an additional 1,009,053 shares in the last quarter. Capital World Investors raised its position in Copart by 1.0% in the 4th quarter. Capital World Investors now owns 21,419,398 shares of the business services provider’s stock worth $1,049,551,000 after purchasing an additional 207,349 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Copart by 8.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider’s stock worth $867,017,000 after buying an additional 1,199,781 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Copart by 0.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,898,956 shares of the business services provider’s stock valued at $427,807,000 after buying an additional 30,454 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Copart by 28.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,861,282 shares of the business services provider’s stock valued at $397,406,000 after buying an additional 1,500,466 shares during the period. Institutional investors own 85.78% of the company’s stock.

Copart Price Performance

CPRT opened at $51.80 on Friday. The firm has a 50 day simple moving average of $51.61 and a 200 day simple moving average of $53.74. Copart, Inc. has a fifty-two week low of $42.41 and a fifty-two week high of $58.58. The company has a market cap of $49.85 billion, a price-to-earnings ratio of 36.48 and a beta of 1.27.

Copart (NASDAQ:CPRT) last issued its earnings results 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). Copart had a net margin of 32.17% and a return on equity of 19.55%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the firm posted $0.34 EPS. The business’s revenue was up 7.2% on a year-over-year basis. As a group, analysts expect that Copart, Inc. will post 1.54 EPS for the current year.

Wall Street Analyst Weigh In

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

Copart 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.