Ashton Thomas Private Wealth LLC Takes Position in Copart, Inc. (NASDAQ:CPRT)

Ashton Thomas Private Wealth LLC bought a new stake in Copart, Inc. (NASDAQ:CPRT) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,380 shares of the business services provider’s stock, valued at approximately $75,000.

Several other hedge funds have also added to or reduced their stakes in CPRT. Norges Bank bought a new position in Copart in the fourth quarter valued at about $463,262,000. Bank of New York Mellon Corp boosted its holdings in Copart by 116.1% in the first quarter. Bank of New York Mellon Corp now owns 14,808,663 shares of the business services provider’s stock valued at $857,718,000 after acquiring an additional 7,956,043 shares during the last quarter. TD Asset Management Inc boosted its holdings in Copart by 258.1% in the fourth quarter. TD Asset Management Inc now owns 3,392,855 shares of the business services provider’s stock valued at $166,250,000 after acquiring an additional 2,445,440 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in Copart in the second quarter valued at about $109,382,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Copart by 28.0% in the first 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. Institutional investors own 85.78% of the company’s stock.

Copart Trading Up 1.5 %

Shares of CPRT opened at $50.23 on Friday. Copart, Inc. has a 1 year low of $42.41 and a 1 year high of $58.58. The stock has a market cap of $48.34 billion, a P/E ratio of 35.37 and a beta of 1.27. The stock’s 50-day moving average price is $51.85 and its two-hundred day moving average price is $53.80.

Copart (NASDAQ:CPRT) last issued its earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share (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 last year, the business posted $0.34 EPS. Copart’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, equities analysts forecast that Copart, Inc. will post 1.54 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Robert W. Baird reduced their target price on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a report 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.