AE Wealth Management LLC Purchases New Holdings in Copart, Inc. (NASDAQ:CPRT)

AE Wealth Management LLC bought a new stake in shares of Copart, Inc. (NASDAQ:CPRT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,621 shares of the business services provider’s stock, valued at approximately $521,000.

A number of other hedge funds have also recently modified their holdings of CPRT. Cadence Bank boosted its holdings in Copart by 0.6% during the 1st quarter. Cadence Bank now owns 31,371 shares of the business services provider’s stock valued at $1,817,000 after acquiring an additional 187 shares during the period. WASHINGTON TRUST Co boosted its stake in shares of 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 period. Spinnaker Trust grew its holdings in shares of Copart by 4.0% in the second quarter. Spinnaker Trust now owns 5,222 shares of the business services provider’s stock worth $283,000 after purchasing an additional 200 shares during the last quarter. Values First Advisors Inc. increased its stake in Copart by 2.9% in the 2nd quarter. Values First Advisors Inc. now owns 7,098 shares of the business services provider’s stock worth $384,000 after buying an additional 201 shares during the period. Finally, Burney Co. lifted its holdings in Copart by 1.4% during the 2nd quarter. Burney Co. now owns 15,001 shares of the business services provider’s stock valued at $812,000 after buying an additional 206 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Analyst Ratings Changes

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

Copart Trading Up 0.1 %

Shares of Copart stock opened at $52.11 on Friday. The stock’s fifty day moving average price is $51.37 and its 200-day moving average price is $53.64. The firm has a market cap of $50.15 billion, a P/E ratio of 36.70 and a beta of 1.27. Copart, Inc. has a 12 month low of $42.41 and a 12 month high of $58.58.

Copart (NASDAQ:CPRT) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the firm posted $0.34 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. Analysts forecast that Copart, Inc. will post 1.54 earnings per share 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.