Advisor Resource Council Makes New Investment in Copart, Inc. (NASDAQ:CPRT)

Advisor Resource Council purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 12,435 shares of the business services provider’s stock, valued at approximately $652,000.

A number of other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in shares of 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 valued at $867,017,000 after buying an additional 1,199,781 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Copart by 0.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,898,956 shares of the business services provider’s stock valued at $427,807,000 after acquiring an additional 30,454 shares during the period. Legal & General Group Plc raised its stake in Copart by 9.4% in the 2nd quarter. Legal & General Group Plc now owns 6,943,042 shares of the business services provider’s stock valued at $376,035,000 after acquiring an additional 598,566 shares during the period. Price T Rowe Associates Inc. MD raised its stake in 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 valued at $397,406,000 after acquiring an additional 1,500,466 shares during the period. Finally, William Blair Investment Management LLC raised its stake in Copart by 9.9% in the 1st quarter. William Blair Investment Management LLC now owns 5,498,210 shares of the business services provider’s stock valued at $318,456,000 after acquiring an additional 496,643 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

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

Copart Price Performance

CPRT stock opened at $55.44 on Thursday. The stock has a market capitalization of $53.41 billion, a price-to-earnings ratio of 39.88 and a beta of 1.27. The business’s fifty day moving average price is $52.31 and its two-hundred day moving average price is $53.01. Copart, Inc. has a fifty-two week low of $45.74 and a fifty-two week high of $58.58.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. Copart had a return on equity of 19.55% and a net margin of 32.17%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 EPS. Research analysts expect that Copart, Inc. will post 1.54 EPS 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.