Copart, Inc. (NASDAQ:CPRT) Position Lifted by Bowie Capital Management LLC

Bowie Capital Management LLC boosted its position in shares of Copart, Inc. (NASDAQ:CPRT) by 20.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,587,543 shares of the business services provider’s stock after buying an additional 272,538 shares during the period. Copart accounts for approximately 5.3% of Bowie Capital Management LLC’s portfolio, making the stock its 7th biggest holding. Bowie Capital Management LLC owned about 0.16% of Copart worth $85,981,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CPRT. Cadence Bank increased its position in Copart by 0.6% in the 1st quarter. Cadence Bank now owns 31,371 shares of the business services provider’s stock valued at $1,817,000 after acquiring an additional 187 shares during the period. WASHINGTON TRUST Co grew its stake in shares of Copart by 0.3% in the 2nd quarter. WASHINGTON TRUST Co now owns 61,852 shares of the business services provider’s stock valued at $3,350,000 after purchasing an additional 200 shares during the last quarter. Spinnaker Trust increased its holdings in shares of Copart by 4.0% in the second quarter. Spinnaker Trust now owns 5,222 shares of the business services provider’s stock valued at $283,000 after purchasing an additional 200 shares during the period. Values First Advisors Inc. raised its stake in shares of Copart by 2.9% during the second quarter. Values First Advisors Inc. now owns 7,098 shares of the business services provider’s stock worth $384,000 after purchasing an additional 201 shares during the last quarter. Finally, Burney Co. lifted its holdings in shares of Copart by 1.4% during the second quarter. Burney Co. now owns 15,001 shares of the business services provider’s stock worth $812,000 after purchasing an additional 206 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Trading Down 0.1 %

Shares of CPRT opened at $49.46 on Friday. The firm has a market capitalization of $47.60 billion, a PE ratio of 34.83 and a beta of 1.27. The stock’s 50 day moving average is $52.29 and its two-hundred day moving average is $53.85. Copart, Inc. has a twelve month low of $42.41 and a twelve month high of $58.58.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Copart had a return on equity of 20.80% and a net margin of 33.33%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the company earned $0.34 EPS. The company’s revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts predict that Copart, Inc. will post 1.43 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird dropped their price objective on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Copart currently has a consensus rating of “Hold” and a consensus price target of $53.00.

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.