Van ECK Associates Corp Acquires 16,426 Shares of Copart, Inc. (NASDAQ:CPRT)

Van ECK Associates Corp raised its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 11.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 165,665 shares of the business services provider's stock after acquiring an additional 16,426 shares during the quarter. Van ECK Associates Corp's holdings in Copart were worth $8,509,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Cadence Bank lifted its stake in Copart by 0.6% during the first quarter. Cadence Bank now owns 31,371 shares of the business services provider's stock valued at $1,817,000 after purchasing an additional 187 shares during the last quarter. WASHINGTON TRUST Co increased its holdings in shares of Copart by 0.3% during the 2nd quarter. WASHINGTON TRUST Co now owns 61,852 shares of the business services provider's stock worth $3,350,000 after purchasing an additional 200 shares during the period. Spinnaker Trust raised its holdings in Copart by 4.0% in 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 in the last quarter. Values First Advisors Inc. raised its stake in shares of Copart by 2.9% in 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 in the last quarter. Finally, Duncan Williams Asset Management LLC lifted its holdings in shares of Copart by 1.3% during the 3rd quarter. Duncan Williams Asset Management LLC now owns 15,437 shares of the business services provider's stock worth $809,000 after acquiring an additional 203 shares during the period. Institutional investors own 85.78% of the company's stock.

Copart Stock Performance

NASDAQ:CPRT traded up $0.34 during mid-day trading on Thursday, hitting $55.78. The stock had a trading volume of 1,339,952 shares, compared to its average volume of 4,418,295. Copart, Inc. has a twelve month low of $46.20 and a twelve month high of $58.58. The company's 50 day simple moving average is $52.31 and its 200 day simple moving average is $53.01. The stock has a market cap of $53.74 billion, a price-to-earnings ratio of 40.16 and a beta of 1.27.

Copart (NASDAQ:CPRT - Get Free Report) last released its 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). 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%. During the same quarter in the previous year, the company posted $0.34 earnings per share. The business's revenue was up 7.2% compared to the same quarter last year. As a group, equities analysts forecast that Copart, Inc. will post 1.54 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird reduced their target price on shares of Copart from $58.00 to $56.00 and set an "outperform" rating on the stock in a research note 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.