Copart, Inc. (NASDAQ:CPRT) Shares Acquired by Cavalier Investments LLC

Cavalier Investments LLC raised its stake in Copart, Inc. (NASDAQ:CPRT) by 6.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 49,765 shares of the business services provider’s stock after buying an additional 3,105 shares during the quarter. Cavalier Investments LLC’s holdings in Copart were worth $2,608,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Bank of New York Mellon Corp increased its position in Copart by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider’s stock valued at $867,017,000 after acquiring an additional 1,199,781 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Copart by 0.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,898,956 shares of the business services provider’s stock valued at $427,807,000 after purchasing an additional 30,454 shares during the period. Legal & General Group Plc raised its stake in shares of Copart by 9.4% during the second quarter. Legal & General Group Plc now owns 6,943,042 shares of the business services provider’s stock valued at $376,035,000 after purchasing an additional 598,566 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Copart by 28.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,861,282 shares of the business services provider’s stock worth $397,406,000 after purchasing an additional 1,500,466 shares during the period. Finally, William Blair Investment Management LLC grew its position in Copart by 9.9% in the 1st quarter. William Blair Investment Management LLC now owns 5,498,210 shares of the business services provider’s stock valued at $318,456,000 after buying an additional 496,643 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Up 0.6 %

NASDAQ:CPRT opened at $51.71 on Monday. The business’s 50-day moving average price is $52.30 and its 200 day moving average price is $53.10. Copart, Inc. has a 52-week low of $42.41 and a 52-week high of $58.58. The firm has a market cap of $49.76 billion, a P/E ratio of 36.42 and a beta of 1.27.

Copart (NASDAQ:CPRT) last released its earnings results 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 net margin of 32.17% and a return on equity of 19.55%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the company earned $0.34 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. Sell-side analysts expect that Copart, Inc. will post 1.54 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.