Davidson Capital Management Inc. Cuts Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Davidson Capital Management Inc. decreased its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 12.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 54,120 shares of the business services provider's stock after selling 7,741 shares during the quarter. Copart comprises approximately 0.8% of Davidson Capital Management Inc.'s investment portfolio, making the stock its 22nd largest holding. Davidson Capital Management Inc.'s holdings in Copart were worth $3,063,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CPRT. State of Alaska Department of Revenue grew its position in Copart by 2.4% in the 1st quarter. State of Alaska Department of Revenue now owns 116,378 shares of the business services provider's stock valued at $6,585,000 after purchasing an additional 2,750 shares during the period. MFA Wealth Advisors LLC grew its position in Copart by 4.0% in the 1st quarter. MFA Wealth Advisors LLC now owns 64,842 shares of the business services provider's stock valued at $3,669,000 after purchasing an additional 2,495 shares during the period. Crown Oak Advisors LLC grew its position in Copart by 3.5% in the 1st quarter. Crown Oak Advisors LLC now owns 174,917 shares of the business services provider's stock valued at $9,899,000 after purchasing an additional 5,889 shares during the period. Cushing Capital Partners LLC acquired a new stake in Copart in the 1st quarter valued at $255,000. Finally, NBT Bank N A NY acquired a new stake in Copart in the 1st quarter valued at $352,000. Institutional investors and hedge funds own 85.78% of the company's stock.

Copart Stock Up 0.2%

NASDAQ:CPRT traded up $0.09 during trading hours on Friday, hitting $47.97. 14,395,030 shares of the company traded hands, compared to its average volume of 4,874,861. The firm's 50-day simple moving average is $56.58 and its 200-day simple moving average is $56.99. Copart, Inc. has a one year low of $47.70 and a one year high of $64.38. The company has a market cap of $46.38 billion, a PE ratio of 31.56 and a beta of 1.10.

Copart (NASDAQ:CPRT - Get Free Report) last released its earnings results on Thursday, May 22nd. The business services provider reported $0.42 EPS for the quarter, hitting analysts' consensus estimates of $0.42. The company had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.23 billion. Copart had a return on equity of 18.20% and a net margin of 32.21%. The business's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.39 EPS. As a group, equities research analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Argus downgraded shares of Copart from a "buy" rating to a "hold" rating in a research report on Friday, March 14th. JPMorgan Chase & Co. dropped their price objective on Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd.

Insider Buying and Selling

In other Copart news, Director Steven D. Cohan sold 5,003 shares of Copart stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $60.01, for a total transaction of $300,230.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 9.68% of the stock is currently owned by insiders.

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.