Copart, Inc. (NASDAQ:CPRT) Shares Acquired by Drake & Associates LLC

Drake & Associates LLC raised its position in Copart, Inc. (NASDAQ:CPRT) by 32.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,512 shares of the business services provider’s stock after purchasing an additional 1,350 shares during the quarter. Drake & Associates LLC’s holdings in Copart were worth $289,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Manning & Napier Advisors LLC acquired a new stake in shares of Copart in the second quarter worth $109,382,000. Price T Rowe Associates Inc. MD increased its holdings in 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 purchasing an additional 1,500,466 shares in the last quarter. TD Asset Management Inc raised its position in 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 valued at $281,616,000 after purchasing an additional 1,469,292 shares during the period. Kimelman & Baird LLC acquired a new position in shares of Copart during the second quarter worth about $70,307,000. Finally, Bank of New York Mellon Corp boosted its position 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 owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Copart Price Performance

Shares of CPRT stock opened at $53.69 on Friday. The company’s fifty day moving average price is $52.16 and its two-hundred day moving average price is $53.34. The firm has a market capitalization of $51.67 billion, a P/E ratio of 37.81 and a beta of 1.27. Copart, Inc. has a 12 month low of $42.41 and a 12 month high of $58.58.

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

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.