Vanguard Group Inc. raised its position in Copart, Inc. (NASDAQ:CPRT) by 3.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,950,119 shares of the business services provider’s stock after buying an additional 290,275 shares during the period. Vanguard Group Inc.’s holdings in Copart were worth $492,351,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the company. William Blair Investment Management LLC increased its position in shares of Copart by 31.7% in the first quarter. William Blair Investment Management LLC now owns 5,500,545 shares of the business services provider’s stock worth $340,649,000 after buying an additional 1,324,570 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Copart by 8.0% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,883,576 shares of the business services provider’s stock worth $178,580,000 after buying an additional 212,528 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Copart by 4.0% in the first quarter. Bank of New York Mellon Corp now owns 1,619,898 shares of the business services provider’s stock worth $100,320,000 after buying an additional 61,649 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Copart by 7.9% in the first quarter. Alliancebernstein L.P. now owns 1,287,440 shares of the business services provider’s stock worth $79,731,000 after buying an additional 93,714 shares in the last quarter. Finally, Madison Investment Holdings Inc. increased its position in shares of Copart by 0.3% in the first quarter. Madison Investment Holdings Inc. now owns 1,162,753 shares of the business services provider’s stock worth $72,009,000 after buying an additional 3,988 shares in the last quarter. Institutional investors own 40.33% of the company’s stock.
Copart, Inc. (NASDAQ:CPRT) opened at 31.45 on Tuesday. The stock has a 50 day moving average price of $30.69 and a 200 day moving average price of $48.28. The stock has a market cap of $7.24 billion, a P/E ratio of 18.15 and a beta of 1.11. Copart, Inc. has a 52-week low of $22.99 and a 52-week high of $32.00.
Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Wednesday, May 24th. The business services provider reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.01. The business had revenue of $373.90 million for the quarter, compared to analyst estimates of $386.61 million. Copart had a return on equity of 33.20% and a net margin of 29.10%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.64 EPS. On average, equities research analysts forecast that Copart, Inc. will post $1.25 EPS for the current year.
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CPRT has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded Copart from a “buy” rating to a “hold” rating in a research report on Tuesday, February 28th. Jefferies Group LLC reiterated a “hold” rating and set a $30.00 price target on shares of Copart in a research report on Tuesday, April 18th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $48.80.
In other news, CEO A Jayson Adair sold 200,000 shares of the business’s stock in a transaction that occurred on Thursday, March 30th. The stock was sold at an average price of $62.06, for a total transaction of $12,412,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 17.00% of the stock is owned by insiders.
Copart Company Profile
Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.
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