Copart, Inc. (NASDAQ:CPRT) Shares Acquired by Sheaff Brock Investment Advisors LLC

Sheaff Brock Investment Advisors LLC raised its position in shares of Copart, Inc. (NASDAQ:CPRT) by 11.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,801 shares of the business services provider’s stock after purchasing an additional 719 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Copart were worth $356,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Silvercrest Asset Management Group LLC raised its holdings in shares of Copart by 40.6% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 37,962 shares of the business services provider’s stock worth $2,199,000 after acquiring an additional 10,959 shares during the period. Twin Tree Management LP acquired a new stake in Copart during the 1st quarter worth $3,877,000. Manning & Napier Advisors LLC acquired a new stake in shares of Copart during the second quarter worth about $109,382,000. Edgestream Partners L.P. acquired a new position in Copart in the 1st quarter valued at about $644,000. Finally, Comerica Bank lifted its stake in shares of Copart by 5.9% in the 1st quarter. Comerica Bank now owns 336,206 shares of the business services provider’s stock worth $19,473,000 after acquiring an additional 18,605 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Copart Stock Down 1.2 %

CPRT stock opened at $56.67 on Friday. The company has a market capitalization of $54.59 billion, a price-to-earnings ratio of 40.77 and a beta of 1.27. The firm has a 50 day moving average of $52.99 and a two-hundred day moving average of $53.11. Copart, Inc. has a 12 month low of $46.21 and a 12 month high of $58.58.

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

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.