Addison Capital Co Grows Position in Copart, Inc. (NASDAQ:CPRT)

Addison Capital Co raised its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 1.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,283 shares of the business services provider’s stock after buying an additional 798 shares during the quarter. Copart comprises about 1.2% of Addison Capital Co’s portfolio, making the stock its 26th biggest holding. Addison Capital Co’s holdings in Copart were worth $3,002,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of CPRT. Bank of New York Mellon Corp grew its holdings 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 during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of 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 valued at $427,807,000 after purchasing an additional 30,454 shares during the period. Legal & General Group Plc grew its holdings in shares of Copart by 9.4% in the second quarter. Legal & General Group Plc now owns 6,943,042 shares of the business services provider’s stock valued at $376,035,000 after purchasing an additional 598,566 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Copart by 28.0% in the first 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 purchasing an additional 1,500,466 shares during the period. Finally, William Blair Investment Management LLC grew its holdings in shares of Copart by 9.9% in the first 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 purchasing an additional 496,643 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analyst Ratings Changes

Separately, Robert W. Baird lowered their target price 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 $53.66 on Friday. The firm has a market cap of $51.64 billion, a PE ratio of 37.81 and a beta of 1.27. The company has a 50-day moving average of $52.16 and a two-hundred day moving average of $53.34. Copart, Inc. has a 1-year low of $42.41 and a 1-year high of $58.58.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Copart had a return on equity of 19.55% and a net margin of 32.17%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.34 EPS. Sell-side analysts anticipate that Copart, Inc. will post 1.54 EPS for the current fiscal 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.