King Luther Capital Management Corp Has $6.29 Million Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

King Luther Capital Management Corp grew its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 119,963 shares of the business services provider’s stock after purchasing an additional 553 shares during the period. King Luther Capital Management Corp’s holdings in Copart were worth $6,286,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Optimum Investment Advisors raised its stake in Copart by 141.5% during the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after buying an additional 300 shares during the period. Eastern Bank acquired a new position in shares of Copart during the third quarter worth approximately $29,000. Crewe Advisors LLC lifted its holdings in shares of Copart by 98.6% in the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock worth $31,000 after purchasing an additional 280 shares in the last quarter. Meeder Asset Management Inc. grew its position in Copart by 283.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 425 shares during the period. Finally, Versant Capital Management Inc increased its stake in Copart by 477.7% during the 2nd quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 492 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday. Robert W. Baird dropped their price target on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th.

Copart Trading Up 2.8 %

NASDAQ CPRT opened at $56.97 on Friday. The firm has a market capitalization of $54.88 billion, a P/E ratio of 40.98 and a beta of 1.27. The business has a fifty day simple moving average of $53.54 and a 200 day simple moving average of $53.16. Copart, Inc. has a 12 month low of $46.21 and a 12 month high of $58.58.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). Copart had a net margin of 32.17% and a return on equity of 19.55%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the business earned $0.34 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, sell-side analysts predict that Copart, Inc. will post 1.54 EPS for the current fiscal year.

Copart Company 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.