Arkadios Wealth Advisors Grows Stake in Copart, Inc. (NASDAQ:CPRT)

Arkadios Wealth Advisors grew its position in shares of Copart, Inc. (NASDAQ:CPRT) by 35.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,298 shares of the business services provider’s stock after purchasing an additional 14,117 shares during the period. Arkadios Wealth Advisors’ holdings in Copart were worth $2,845,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CPRT. Nordea Investment Management AB grew its position in Copart by 44.1% in the first quarter. Nordea Investment Management AB now owns 2,078,277 shares of the business services provider’s stock worth $120,602,000 after acquiring an additional 636,438 shares in the last quarter. Silvercrest Asset Management Group LLC grew its position in Copart by 40.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 37,962 shares of the business services provider’s stock worth $2,199,000 after acquiring an additional 10,959 shares in the last quarter. Motco grew its position in Copart by 6,085.7% in the first quarter. Motco now owns 10,392 shares of the business services provider’s stock worth $602,000 after acquiring an additional 10,224 shares in the last quarter. Twin Tree Management LP purchased a new position in Copart in the first quarter worth $3,877,000. Finally, Manning & Napier Advisors LLC purchased a new position in Copart in the second quarter worth $109,382,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird cut their target price on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th.

Copart Stock Up 0.6 %

Copart stock opened at $51.71 on Friday. The company has a market capitalization of $49.76 billion, a PE ratio of 36.42 and a beta of 1.27. The firm has a fifty day simple moving average of $52.30 and a two-hundred day simple moving average of $53.12. Copart, Inc. has a twelve month low of $42.41 and a twelve month high of $58.58.

Copart (NASDAQ:CPRT) last issued 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). The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. Copart had a net margin of 32.17% and a return on equity of 19.55%. The business’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the company posted $0.34 earnings per share. As a group, equities analysts expect that Copart, Inc. will post 1.54 earnings per share for the current fiscal 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.