Venturi Wealth Management LLC Raises Stock Position in Copart, Inc. (NASDAQ:CPRT)

Venturi Wealth Management LLC lifted its holdings in Copart, Inc. (NASDAQ:CPRT) by 37.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,816 shares of the business services provider’s stock after acquiring an additional 2,697 shares during the period. Venturi Wealth Management LLC’s holdings in Copart were worth $514,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CPRT. Optimum Investment Advisors lifted its position in Copart by 141.5% in the third 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 last quarter. Eastern Bank purchased a new position in shares of Copart during the 3rd quarter worth about $29,000. Crewe Advisors LLC grew its holdings in Copart by 98.6% during the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 280 shares during the last quarter. Meeder Asset Management Inc. raised 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 worth $31,000 after purchasing an additional 425 shares during the period. Finally, Versant Capital Management Inc boosted its position in shares of Copart by 477.7% during the second quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock valued at $32,000 after buying an additional 492 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analysts Set New Price Targets

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

Copart Stock Performance

Shares of CPRT opened at $57.18 on Wednesday. The stock has a market capitalization of $55.09 billion, a PE ratio of 41.14 and a beta of 1.27. The company has a 50 day moving average price of $52.59 and a 200-day moving average price of $53.04. Copart, Inc. has a fifty-two week low of $46.21 and a fifty-two week high of $58.58.

Copart (NASDAQ:CPRT) last announced its earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $1.07 billion for 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 firm’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business posted $0.34 EPS. Equities research analysts forecast that Copart, Inc. will post 1.54 EPS for the current 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.