King Luther Capital Management Corp Grows Position in Copart, Inc. (NASDAQ:CPRT)

King Luther Capital Management Corp grew its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 0.5% in the third quarter, HoldingsChannel.com reports. The fund owned 119,963 shares of the business services provider’s stock after purchasing an additional 553 shares during the period. King Luther Capital Management Corp’s holdings in Copart were worth $6,286,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CPRT. WASHINGTON TRUST Co lifted its position in Copart by 0.3% during the second 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 lifted its holdings in shares of Copart by 4.0% during the 2nd quarter. Spinnaker Trust now owns 5,222 shares of the business services provider’s stock worth $283,000 after acquiring an additional 200 shares during the last quarter. Values First Advisors Inc. grew its position in Copart by 2.9% in the second quarter. Values First Advisors Inc. now owns 7,098 shares of the business services provider’s stock worth $384,000 after acquiring an additional 201 shares in the last quarter. Duncan Williams Asset Management LLC increased its stake in Copart by 1.3% in the third quarter. Duncan Williams Asset Management LLC now owns 15,437 shares of the business services provider’s stock valued at $809,000 after acquiring an additional 203 shares during the last quarter. Finally, Burney Co. increased its stake in Copart by 1.4% in the second quarter. Burney Co. now owns 15,001 shares of the business services provider’s stock valued at $812,000 after acquiring an additional 206 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CPRT shares. Robert W. Baird cut 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. JPMorgan Chase & Co. boosted their target price on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday.

Copart Stock Up 2.8 %

Shares of NASDAQ:CPRT opened at $56.97 on Friday. The stock has a market cap of $54.88 billion, a PE ratio of 40.98 and a beta of 1.27. The company’s fifty day moving average is $53.54 and its 200 day moving average is $53.16. Copart, Inc. has a 52 week low of $46.21 and a 52 week 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 the consensus estimate of $0.36 by ($0.03). Copart had a return on equity of 19.55% and a net margin of 32.17%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the firm posted $0.34 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. Sell-side analysts anticipate that Copart, Inc. will post 1.54 EPS for the current 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.