Copart, Inc. (NASDAQ:CPRT) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC increased its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 272.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 168,730 shares of the business services provider’s stock after purchasing an additional 123,414 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Copart were worth $9,773,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CPRT. Gateway Investment Advisers LLC raised its stake in shares of Copart by 1.3% in the 1st quarter. Gateway Investment Advisers LLC now owns 440,500 shares of the business services provider’s stock valued at $25,514,000 after acquiring an additional 5,593 shares during the period. Cherrydale Wealth Management LLC purchased a new stake in Copart in the first quarter valued at approximately $241,000. Ballentine Partners LLC raised its position in Copart by 1.7% in the first quarter. Ballentine Partners LLC now owns 28,417 shares of the business services provider’s stock valued at $1,646,000 after purchasing an additional 476 shares during the period. RDA Financial Network lifted its stake in Copart by 36.5% during the first quarter. RDA Financial Network now owns 16,727 shares of the business services provider’s stock worth $969,000 after purchasing an additional 4,476 shares in the last quarter. Finally, Contravisory Investment Management Inc. boosted its position in shares of Copart by 0.7% during the first quarter. Contravisory Investment Management Inc. now owns 145,525 shares of the business services provider’s stock worth $8,429,000 after buying an additional 1,052 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Down 1.1 %

NASDAQ:CPRT opened at $54.16 on Friday. Copart, Inc. has a 52 week low of $42.41 and a 52 week high of $58.58. The company has a fifty day simple moving average of $54.27 and a two-hundred day simple moving average of $52.61. The company has a market cap of $52.12 billion, a price-to-earnings ratio of 38.14 and a beta of 1.26.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, May 16th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Copart had a return on equity of 20.80% and a net margin of 33.33%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the business posted $0.36 earnings per share. Copart’s revenue was up 10.3% compared to the same quarter last year. On average, analysts expect that Copart, Inc. will post 1.43 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. increased their target price on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Copart currently has an average rating of “Hold” and an average target price 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.