Copart, Inc. (NASDAQ:CPRT) Stock Holdings Raised by Drake & Associates LLC

Drake & Associates LLC grew its stake in Copart, Inc. (NASDAQ:CPRT) by 32.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Manning & Napier Advisors LLC bought a new stake in Copart in the second quarter valued at about $109,382,000. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 acquiring an additional 1,500,466 shares during the last quarter. TD Asset Management Inc raised its position in shares of Copart by 43.3% during the 1st quarter. TD Asset Management Inc now owns 4,862,147 shares of the business services provider’s stock valued at $281,616,000 after acquiring an additional 1,469,292 shares in the last quarter. Kimelman & Baird LLC bought a new position in Copart during the second quarter worth $70,307,000. Finally, Bank of New York Mellon Corp boosted its holdings in 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 purchasing an additional 1,199,781 shares during the period. Institutional investors own 85.78% of the company’s stock.

Copart Trading Down 1.6 %

NASDAQ:CPRT opened at $53.69 on Friday. The stock has a 50 day moving average of $52.16 and a 200-day moving average of $53.34. The firm has a market capitalization of $51.67 billion, a PE ratio of 37.81 and a beta of 1.27. Copart, Inc. has a 52 week low of $42.41 and a 52 week high of $58.58.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Copart had a return on equity of 19.55% and a net margin of 32.17%. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the company earned $0.34 earnings per share. Copart’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, analysts predict that Copart, Inc. will post 1.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Robert W. Baird dropped 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.

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.