MAI Capital Management Acquires 24,654 Shares of Copart, Inc. (NASDAQ:CPRT)

MAI Capital Management increased its holdings in Copart, Inc. (NASDAQ:CPRT) by 53.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,803 shares of the business services provider’s stock after purchasing an additional 24,654 shares during the quarter. MAI Capital Management’s holdings in Copart were worth $3,710,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cadence Bank increased its stake in shares of Copart by 0.6% in the first quarter. Cadence Bank now owns 31,371 shares of the business services provider’s stock valued at $1,817,000 after buying an additional 187 shares during the period. WASHINGTON TRUST Co boosted its holdings in Copart by 0.3% in the second quarter. WASHINGTON TRUST Co now owns 61,852 shares of the business services provider’s stock valued at $3,350,000 after acquiring an additional 200 shares during the last quarter. Spinnaker Trust increased its position in Copart by 4.0% during the 2nd quarter. Spinnaker Trust now owns 5,222 shares of the business services provider’s stock valued at $283,000 after purchasing an additional 200 shares during the period. Values First Advisors Inc. raised its holdings in Copart by 2.9% during the 2nd quarter. Values First Advisors Inc. now owns 7,098 shares of the business services provider’s stock worth $384,000 after purchasing an additional 201 shares during the last quarter. Finally, Duncan Williams Asset Management LLC lifted its position in shares of Copart by 1.3% in the 3rd quarter. Duncan Williams Asset Management LLC now owns 15,437 shares of the business services provider’s stock worth $809,000 after purchasing an additional 203 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CPRT shares. Robert W. Baird decreased their price objective 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. JPMorgan Chase & Co. increased their price target on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday.

Copart Stock Down 0.2 %

NASDAQ:CPRT opened at $56.52 on Wednesday. Copart, Inc. has a twelve month low of $46.21 and a twelve month high of $58.58. The company has a fifty day moving average of $53.27 and a 200-day moving average of $53.12. The firm has a market capitalization of $54.45 billion, a P/E ratio of 40.66 and a beta of 1.27.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $1.07 billion during 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 company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the firm posted $0.34 earnings per share. On average, analysts anticipate that Copart, Inc. will post 1.54 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.