Copart, Inc. (NASDAQ:CPRT) is Bowie Capital Management LLC’s 9th Largest Position

Bowie Capital Management LLC boosted its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 14.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,810,210 shares of the business services provider’s stock after acquiring an additional 222,667 shares during the quarter. Copart comprises 4.9% of Bowie Capital Management LLC’s investment portfolio, making the stock its 9th biggest holding. Bowie Capital Management LLC’s holdings in Copart were worth $94,855,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of CPRT. Optimum Investment Advisors increased its position in Copart by 141.5% during the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after purchasing an additional 300 shares during the period. Eastern Bank acquired a new stake in shares of Copart in the 3rd quarter worth approximately $29,000. Crewe Advisors LLC raised its holdings in Copart by 98.6% during the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock worth $31,000 after purchasing an additional 280 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in Copart by 283.3% in the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 425 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Copart by 477.7% in the second quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock valued at $32,000 after buying an additional 492 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Performance

Shares of CPRT traded up $0.58 during trading hours on Monday, hitting $63.28. The stock had a trading volume of 603,488 shares, compared to its average volume of 4,435,537. The company’s fifty day simple moving average is $53.79 and its 200 day simple moving average is $53.18. Copart, Inc. has a 12-month low of $46.21 and a 12-month high of $63.83. The firm has a market cap of $60.96 billion, a P/E ratio of 44.15 and a beta of 1.27.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 earnings per share. As a group, sell-side analysts predict that Copart, Inc. will post 1.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on CPRT shares. JPMorgan Chase & Co. raised their target price on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. 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 note on Thursday, September 5th.

Copart 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.