Cim LLC Boosts Position in Copart, Inc. (NASDAQ:CPRT)

Cim LLC increased its position in Copart, Inc. (NASDAQ:CPRT) by 47.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 326,457 shares of the business services provider’s stock after acquiring an additional 104,892 shares during the quarter. Copart comprises about 2.4% of Cim LLC’s holdings, making the stock its 18th biggest holding. Cim LLC’s holdings in Copart were worth $16,163,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Cadence Bank raised its position 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 worth $1,817,000 after buying an additional 187 shares in the last quarter. WASHINGTON TRUST Co raised its holdings in shares of Copart by 0.3% in the 2nd 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 in the last quarter. Spinnaker Trust boosted its position in shares of 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 acquiring an additional 200 shares during the last quarter. Values First Advisors Inc. lifted its position in Copart by 2.9% during the second quarter. Values First Advisors Inc. now owns 7,098 shares of the business services provider’s stock valued at $384,000 after purchasing an additional 201 shares during the last quarter. Finally, Burney Co. grew its stake in Copart by 1.4% in the 2nd quarter. Burney Co. now owns 15,001 shares of the business services provider’s stock worth $812,000 after buying an additional 206 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Trading Up 0.2 %

NASDAQ CPRT opened at $52.48 on Wednesday. The stock has a 50-day moving average of $51.38 and a 200-day moving average of $53.54. The firm has a market cap of $50.50 billion, a PE ratio of 36.96 and a beta of 1.27. Copart, Inc. has a 1-year low of $42.41 and a 1-year high of $58.58.

Copart (NASDAQ:CPRT) last issued 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). The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Copart had a return on equity of 19.55% and a net margin of 32.17%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.34 earnings per share. As a group, equities research analysts forecast that Copart, Inc. will post 1.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.