Davidson Capital Management Inc. Buys 11,978 Shares of Copart, Inc. (NASDAQ:CPRT)

Davidson Capital Management Inc. raised its stake in Copart, Inc. (NASDAQ:CPRT) by 25.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 59,736 shares of the business services provider’s stock after purchasing an additional 11,978 shares during the period. Copart makes up approximately 1.0% of Davidson Capital Management Inc.’s holdings, making the stock its 23rd biggest position. Davidson Capital Management Inc.’s holdings in Copart were worth $3,235,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. grew its position in Copart by 2.6% during the first quarter. Principal Financial Group Inc. now owns 39,232,895 shares of the business services provider’s stock worth $2,272,369,000 after buying an additional 1,009,053 shares in the last quarter. Capital World Investors increased its position in shares of Copart by 1.0% during the fourth quarter. Capital World Investors now owns 21,419,398 shares of the business services provider’s stock valued at $1,049,551,000 after purchasing an additional 207,349 shares during the period. Bank of New York Mellon Corp raised its stake in shares of 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 valued at $867,017,000 after purchasing an additional 1,199,781 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Copart by 0.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,898,956 shares of the business services provider’s stock worth $427,807,000 after purchasing an additional 30,454 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in Copart by 28.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,861,282 shares of the business services provider’s stock worth $397,406,000 after buying an additional 1,500,466 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird dropped their price objective on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th.

Copart Price Performance

Shares of CPRT stock opened at $51.80 on Friday. The stock’s fifty day simple moving average is $51.61 and its 200 day simple moving average is $53.74. The firm has a market cap of $49.85 billion, a price-to-earnings ratio of 36.48 and a beta of 1.27. Copart, Inc. has a one year low of $42.41 and a one year high of $58.58.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data 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). The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. Copart had a net margin of 32.17% and a return on equity of 19.55%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.34 earnings per share. On average, research analysts anticipate that Copart, Inc. will post 1.54 earnings per share for the current year.

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.