Western Pacific Wealth Management LP Boosts Stock Position in Copart, Inc. (NASDAQ:CPRT)

Western Pacific Wealth Management LP boosted its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 16.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,135 shares of the business services provider’s stock after buying an additional 307 shares during the period. Western Pacific Wealth Management LP’s holdings in Copart were worth $112,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CPRT. Silvercrest Asset Management Group LLC raised its holdings in Copart by 40.6% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 37,962 shares of the business services provider’s stock valued at $2,199,000 after buying an additional 10,959 shares during the period. Motco grew its stake in Copart by 6,085.7% during the 1st quarter. Motco now owns 10,392 shares of the business services provider’s stock worth $602,000 after purchasing an additional 10,224 shares in the last quarter. Twin Tree Management LP acquired a new position in shares of Copart during the first quarter worth about $3,877,000. Manning & Napier Advisors LLC acquired a new stake in shares of Copart during the 2nd quarter worth about $109,382,000. Finally, Edgestream Partners L.P. purchased a new position in Copart in the first quarter valued at approximately $644,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Price Performance

Shares of Copart stock opened at $55.77 on Friday. Copart, Inc. has a 12 month low of $46.20 and a 12 month high of $58.58. The stock has a market capitalization of $53.73 billion, a price-to-earnings ratio of 40.12 and a beta of 1.27. The firm’s fifty day simple moving average is $52.38 and its 200-day simple moving average is $53.02.

Copart (NASDAQ:CPRT) last released its earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share (EPS) 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 company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the firm posted $0.34 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts anticipate that Copart, Inc. will post 1.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, 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 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.