Capital Investment Advisors LLC Raises Position in Copart, Inc. (NASDAQ:CPRT)

Capital Investment Advisors LLC lifted its holdings in Copart, Inc. (NASDAQ:CPRT) by 22.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,876 shares of the business services provider’s stock after buying an additional 5,697 shares during the quarter. Capital Investment Advisors LLC’s holdings in Copart were worth $1,618,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CPRT. Manning & Napier Advisors LLC purchased a new stake in shares of Copart in the second quarter worth approximately $109,382,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Copart by 28.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,861,282 shares of the business services provider’s stock worth $397,406,000 after buying an additional 1,500,466 shares during the period. TD Asset Management Inc raised its holdings in shares of Copart by 43.3% in the first quarter. TD Asset Management Inc now owns 4,862,147 shares of the business services provider’s stock worth $281,616,000 after buying an additional 1,469,292 shares during the period. Kimelman & Baird LLC purchased a new stake in shares of Copart in the second quarter worth approximately $70,307,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Copart by 8.1% in the second 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 during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Up 0.4 %

Shares of NASDAQ:CPRT opened at $53.88 on Monday. Copart, Inc. has a 52-week low of $42.41 and a 52-week high of $58.58. The stock has a market cap of $51.85 billion, a P/E ratio of 37.94 and a beta of 1.27. The business’s 50 day moving average is $52.22 and its 200 day moving average is $53.29.

Copart (NASDAQ:CPRT) last announced its 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 company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. Copart had a net margin of 32.17% and a return on equity of 19.55%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business posted $0.34 EPS. On average, sell-side analysts anticipate that Copart, Inc. will post 1.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird dropped their price objective 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 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.