Drive Wealth Management LLC Has $266,000 Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Drive Wealth Management LLC lessened its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 3.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 5,086 shares of the business services provider’s stock after selling 202 shares during the period. Drive Wealth Management LLC’s holdings in Copart were worth $266,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CPRT. Silvercrest Asset Management Group LLC grew its holdings in Copart by 40.6% during the first quarter. Silvercrest Asset Management Group LLC now owns 37,962 shares of the business services provider’s stock valued at $2,199,000 after purchasing an additional 10,959 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in Copart during the second quarter valued at about $109,382,000. Edgestream Partners L.P. acquired a new stake in shares of Copart in the first quarter valued at about $644,000. Comerica Bank increased its stake in shares of Copart by 5.9% in the first quarter. Comerica Bank now owns 336,206 shares of the business services provider’s stock worth $19,473,000 after purchasing an additional 18,605 shares during the period. Finally, Cetera Investment Advisers lifted its position in shares of Copart by 162.9% during the 1st quarter. Cetera Investment Advisers now owns 184,417 shares of the business services provider’s stock worth $10,681,000 after purchasing an additional 114,263 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird lowered their target price on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th.

Copart Stock Performance

NASDAQ:CPRT opened at $56.63 on Tuesday. Copart, Inc. has a 52-week low of $46.21 and a 52-week high of $58.58. The company has a market cap of $54.56 billion, a price-to-earnings ratio of 40.74 and a beta of 1.27. The firm’s 50-day moving average is $53.13 and its 200-day moving average is $53.11.

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 business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. Copart had a return on equity of 19.55% and a net margin of 32.17%. Copart’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.34 earnings per share. Equities analysts predict that Copart, Inc. will post 1.54 EPS for the current 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.