Davidson Capital Management Inc. Cuts Position in Copart, Inc. (NASDAQ:CPRT)

Davidson Capital Management Inc. reduced its position in shares of Copart, Inc. (NASDAQ:CPRT) by 0.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,338 shares of the business services provider’s stock after selling 398 shares during the period. Davidson Capital Management Inc.’s holdings in Copart were worth $3,109,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CPRT. Optimum Investment Advisors lifted its holdings in Copart by 141.5% in the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 300 shares during the last quarter. Eastern Bank purchased a new position in Copart in the third quarter valued at $29,000. Crewe Advisors LLC increased its position in Copart by 98.6% in the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 280 shares during the period. Meeder Asset Management Inc. increased its position in Copart by 283.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 425 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in Copart by 477.7% in the 2nd quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 492 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Up 1.0 %

Shares of CPRT stock traded up $0.51 on Tuesday, reaching $52.36. 498,281 shares of the stock were exchanged, compared to its average volume of 4,441,178. The stock has a market cap of $50.44 billion, a P/E ratio of 36.51 and a beta of 1.27. The firm has a 50 day moving average of $52.30 and a two-hundred day moving average of $53.07. Copart, Inc. has a 1-year low of $42.41 and a 1-year high of $58.58.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The firm 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 company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.34 earnings per share. On average, equities research analysts predict that Copart, Inc. will post 1.54 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Robert W. Baird decreased 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 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.