State of Alaska Department of Revenue Grows Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

State of Alaska Department of Revenue raised its position in shares of Copart, Inc. (NASDAQ:CPRT) by 6.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 115,383 shares of the business services provider’s stock after buying an additional 6,580 shares during the period. State of Alaska Department of Revenue’s holdings in Copart were worth $6,045,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Cadence Bank boosted its holdings in Copart by 0.6% in the first quarter. Cadence Bank now owns 31,371 shares of the business services provider’s stock valued at $1,817,000 after purchasing an additional 187 shares during the period. WASHINGTON TRUST Co boosted its holdings in Copart by 0.3% in the second quarter. WASHINGTON TRUST Co now owns 61,852 shares of the business services provider’s stock valued at $3,350,000 after purchasing an additional 200 shares during the period. Spinnaker Trust boosted its holdings in Copart by 4.0% in the second quarter. Spinnaker Trust now owns 5,222 shares of the business services provider’s stock valued at $283,000 after purchasing an additional 200 shares during the period. Values First Advisors Inc. boosted its holdings in Copart by 2.9% in the second quarter. Values First Advisors Inc. now owns 7,098 shares of the business services provider’s stock valued at $384,000 after purchasing an additional 201 shares during the period. Finally, Duncan Williams Asset Management LLC boosted its holdings in Copart by 1.3% in the third quarter. Duncan Williams Asset Management LLC now owns 15,437 shares of the business services provider’s stock valued at $809,000 after purchasing an additional 203 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Price Performance

Copart stock opened at $51.85 on Tuesday. Copart, Inc. has a 1-year low of $42.41 and a 1-year high of $58.58. The stock has a market cap of $49.90 billion, a PE ratio of 36.51 and a beta of 1.27. The stock’s fifty day moving average is $52.30 and its two-hundred day moving average is $53.07.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $1.07 billion. During the same quarter in the prior year, the business earned $0.34 earnings per share. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. On average, research analysts expect that Copart, Inc. will post 1.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird decreased their target price on Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a 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.