HBW Advisory Services LLC Takes Position in Copart, Inc. (NASDAQ:CPRT)

HBW Advisory Services LLC acquired a new position in Copart, Inc. (NASDAQ:CPRT) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,984 shares of the business services provider’s stock, valued at approximately $366,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Manning & Napier Advisors LLC purchased a new position in Copart in the second quarter worth $109,382,000. Price T Rowe Associates Inc. MD boosted 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 worth $397,406,000 after purchasing an additional 1,500,466 shares in the last quarter. TD Asset Management Inc increased 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 purchasing an additional 1,469,292 shares during the last quarter. Kimelman & Baird LLC purchased a new position in shares of Copart during the 2nd quarter valued at about $70,307,000. Finally, Bank of New York Mellon Corp lifted its position in Copart by 8.1% in the 2nd 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 buying an additional 1,199,781 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Price Performance

NASDAQ:CPRT traded up $0.71 during trading hours on Friday, hitting $52.90. The company had a trading volume of 3,682,181 shares, compared to its average volume of 4,460,492. The stock has a 50-day moving average price of $51.48 and a 200 day moving average price of $53.50. The company has a market capitalization of $50.91 billion, a PE ratio of 37.25 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 the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the business earned $0.34 earnings per share. The business’s quarterly revenue was up 7.2% on a year-over-year basis. Analysts anticipate that Copart, Inc. will post 1.54 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Robert W. Baird cut 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 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.