Park Place Capital Corp Purchases 1,058 Shares of Copart, Inc. (NASDAQ:CPRT)

Park Place Capital Corp raised its position in shares of Copart, Inc. (NASDAQ:CPRT) by 9.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,241 shares of the business services provider’s stock after purchasing an additional 1,058 shares during the quarter. Park Place Capital Corp’s holdings in Copart were worth $709,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CPRT. LPL Financial LLC grew its stake in shares of Copart by 135.9% in the third quarter. LPL Financial LLC now owns 371,071 shares of the business services provider’s stock worth $15,989,000 after acquiring an additional 213,757 shares during the period. O Shaughnessy Asset Management LLC grew its stake in shares of Copart by 243.4% in the third quarter. O Shaughnessy Asset Management LLC now owns 55,557 shares of the business services provider’s stock worth $2,394,000 after acquiring an additional 39,380 shares during the period. Bank of Nova Scotia grew its stake in shares of Copart by 104.7% in the third quarter. Bank of Nova Scotia now owns 155,500 shares of the business services provider’s stock worth $6,700,000 after acquiring an additional 79,542 shares during the period. Toronto Dominion Bank grew its stake in shares of Copart by 95.8% in the third quarter. Toronto Dominion Bank now owns 436,333 shares of the business services provider’s stock worth $18,802,000 after acquiring an additional 213,504 shares during the period. Finally, Nomura Holdings Inc. bought a new stake in shares of Copart in the third quarter worth approximately $306,000. 85.78% of the stock is currently owned by institutional investors.

Copart Price Performance

Shares of CPRT traded down $0.81 on Monday, reaching $53.35. The company’s stock had a trading volume of 3,608,968 shares, compared to its average volume of 4,524,552. The stock has a market capitalization of $51.34 billion, a P/E ratio of 38.17 and a beta of 1.26. The stock’s 50 day simple moving average is $54.27 and its two-hundred day simple moving average is $52.63. Copart, Inc. has a 12-month low of $42.41 and a 12-month high of $58.58.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, May 16th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Copart had a net margin of 33.33% and a return on equity of 20.80%. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the firm posted $0.36 earnings per share. The firm’s revenue was up 10.3% compared to the same quarter last year. Analysts expect that Copart, Inc. will post 1.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. raised their price objective on shares of Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Copart currently has an average rating of “Hold” and an average price target of $51.00.

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.