Copart, Inc. (NASDAQ:CPRT) Shares Bought by Bowie Capital Management LLC

Bowie Capital Management LLC lifted its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 14.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,810,210 shares of the business services provider’s stock after purchasing an additional 222,667 shares during the period. Copart accounts for about 4.9% of Bowie Capital Management LLC’s portfolio, making the stock its 9th largest holding. Bowie Capital Management LLC owned approximately 0.19% of Copart worth $94,855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Silvercrest Asset Management Group LLC boosted its stake in Copart by 40.6% during the first quarter. Silvercrest Asset Management Group LLC now owns 37,962 shares of the business services provider’s stock worth $2,199,000 after buying an additional 10,959 shares during the period. Manning & Napier Advisors LLC acquired a new stake in Copart in the 2nd quarter valued at approximately $109,382,000. Comerica Bank raised its position in Copart by 5.9% in the first quarter. Comerica Bank now owns 336,206 shares of the business services provider’s stock valued at $19,473,000 after purchasing an additional 18,605 shares during the period. Kinsale Capital Group Inc. boosted its position in shares of Copart by 17.7% during the third quarter. Kinsale Capital Group Inc. now owns 89,979 shares of the business services provider’s stock worth $4,715,000 after buying an additional 13,554 shares during the period. Finally, Cetera Investment Advisers grew its stake in shares of Copart by 162.9% in the first quarter. Cetera Investment Advisers now owns 184,417 shares of the business services provider’s stock valued at $10,681,000 after buying an additional 114,263 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Robert W. Baird reduced their target price on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th.

Copart Stock Performance

CPRT stock traded up $0.58 during midday trading on Monday, reaching $63.28. 603,488 shares of the company were exchanged, compared to its average volume of 4,435,537. The company has a market cap of $60.96 billion, a price-to-earnings ratio of 44.15 and a beta of 1.27. Copart, Inc. has a 1-year low of $46.21 and a 1-year high of $63.83. The stock’s 50-day simple moving average is $53.79 and its 200 day simple moving average is $53.18.

Copart (NASDAQ:CPRT) last announced 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 31.92% and a return on equity of 18.96%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the firm earned $0.34 earnings per share. Copart’s revenue was up 7.2% on a year-over-year basis. On average, research analysts anticipate that Copart, Inc. will post 1.55 earnings per share 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.