Park Place Capital Corp Increases Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Park Place Capital Corp raised its holdings in Copart, Inc. (NASDAQ:CPRT) by 35.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,548 shares of the business services provider’s stock after buying an additional 4,307 shares during the quarter. Park Place Capital Corp’s holdings in Copart were worth $896,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Transcend Capital Advisors LLC purchased a new position in shares of Copart during the second quarter worth $520,000. EverSource Wealth Advisors LLC lifted its position in shares of Copart by 20.2% in the first quarter. EverSource Wealth Advisors LLC now owns 2,368 shares of the business services provider’s stock valued at $129,000 after acquiring an additional 398 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Copart by 54.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 346,691 shares of the business services provider’s stock worth $19,612,000 after acquiring an additional 121,627 shares during the last quarter. Cetera Advisors LLC raised its position in shares of Copart by 72.0% in the first quarter. Cetera Advisors LLC now owns 35,767 shares of the business services provider’s stock valued at $2,072,000 after buying an additional 14,971 shares during the last quarter. Finally, Cetera Investment Advisers lifted its stake in Copart by 162.9% in the 1st quarter. Cetera Investment Advisers now owns 184,417 shares of the business services provider’s stock worth $10,681,000 after purchasing an additional 114,263 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Price Performance

Shares of CPRT stock traded down $0.50 during trading on Friday, hitting $51.73. 3,767,234 shares of the stock traded hands, compared to its average volume of 4,364,919. Copart, Inc. has a 52-week low of $42.41 and a 52-week high of $58.58. The firm has a market capitalization of $49.78 billion, a P/E ratio of 36.43 and a beta of 1.28. The firm’s fifty day moving average price is $53.40 and its 200-day moving average price is $53.49.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, May 16th. The business services provider reported $0.39 EPS for the quarter, beating the consensus estimate of $0.38 by $0.01. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.11 billion. Copart had a return on equity of 20.80% and a net margin of 33.33%. The company’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.36 EPS. As a group, equities research analysts expect that Copart, Inc. will post 1.43 earnings per share for the current year.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. upped their target price on Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Copart presently has an average rating of “Hold” and a consensus price target of $51.00.

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.