Silvercrest Asset Management Group LLC Boosts Stake in Copart, Inc. (NASDAQ:CPRT)

Silvercrest Asset Management Group LLC boosted its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 40.6% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 37,962 shares of the business services provider’s stock after purchasing an additional 10,959 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Copart were worth $2,199,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rise Advisors LLC acquired a new stake in Copart in the 1st quarter valued at approximately $28,000. Pinnacle Bancorp Inc. increased its position in shares of Copart by 79.6% in the 1st quarter. Pinnacle Bancorp Inc. now owns 528 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 234 shares during the last quarter. Indiana Trust & Investment Management CO acquired a new stake in Copart in the first quarter valued at $36,000. Pittenger & Anderson Inc. raised its position in shares of Copart by 125.8% during the 1st quarter. Pittenger & Anderson Inc. now owns 718 shares of the business services provider’s stock worth $42,000 after acquiring an additional 400 shares in the last quarter. Finally, Trust Co. of Vermont purchased a new stake in shares of Copart during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. boosted their target price on Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Copart presently has a consensus rating of “Hold” and an average target price of $51.00.

Copart Trading Up 1.3 %

Shares of CPRT opened at $51.72 on Wednesday. The company has a 50-day moving average of $53.50 and a two-hundred day moving average of $53.40. Copart, Inc. has a 12-month low of $42.41 and a 12-month high of $58.58. The stock has a market cap of $49.77 billion, a P/E ratio of 36.42 and a beta of 1.27.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, May 16th. The business services provider reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Copart had a net margin of 33.33% and a return on equity of 20.80%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, analysts forecast that Copart, Inc. will post 1.43 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.