Suncoast Equity Management Has $1.47 Million Holdings in Copart, Inc. (NASDAQ:CPRT)

Suncoast Equity Management increased its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 3.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 27,990 shares of the business services provider’s stock after acquiring an additional 840 shares during the period. Suncoast Equity Management’s holdings in Copart were worth $1,467,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Manning & Napier Advisors LLC bought a new stake in Copart during the second quarter worth about $109,382,000. Price T Rowe Associates Inc. MD grew its position in Copart by 28.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,861,282 shares of the business services provider’s stock worth $397,406,000 after acquiring an additional 1,500,466 shares during the last quarter. TD Asset Management Inc increased its holdings in Copart by 43.3% during the 1st quarter. TD Asset Management Inc now owns 4,862,147 shares of the business services provider’s stock valued at $281,616,000 after purchasing an additional 1,469,292 shares in the last quarter. Kimelman & Baird LLC bought a new position in Copart in the 2nd quarter valued at $70,307,000. Finally, Bank of New York Mellon Corp boosted its stake in Copart by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider’s stock worth $867,017,000 after purchasing an additional 1,199,781 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Trading Down 1.6 %

Shares of Copart stock traded down $0.85 during midday trading on Monday, reaching $53.03. The company had a trading volume of 1,137,619 shares, compared to its average volume of 4,487,856. The stock has a fifty day simple moving average of $52.22 and a 200 day simple moving average of $53.29. Copart, Inc. has a 1-year low of $42.41 and a 1-year high of $58.58. The company has a market capitalization of $51.03 billion, a price-to-earnings ratio of 37.94 and a beta of 1.27.

Copart (NASDAQ:CPRT) last released 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). Copart had a net margin of 32.17% and a return on equity of 19.55%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the business posted $0.34 earnings per share. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. Sell-side analysts expect that Copart, Inc. will post 1.54 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.