Victory Capital Management Inc. Increases Stake in Copart, Inc. (NASDAQ:CPRT)

Victory Capital Management Inc. lifted its stake in shares of Copart, Inc. (NASDAQ:CPRTGet Rating) by 6.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 184,446 shares of the business services provider’s stock after buying an additional 10,905 shares during the quarter. Victory Capital Management Inc. owned about 0.08% of Copart worth $21,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp grew its holdings in Copart by 2.9% in the fourth quarter. State Street Corp now owns 8,860,818 shares of the business services provider’s stock worth $1,343,477,000 after purchasing an additional 246,666 shares during the period. Principal Financial Group Inc. grew its holdings in Copart by 9.0% in the fourth quarter. Principal Financial Group Inc. now owns 7,963,326 shares of the business services provider’s stock worth $1,203,727,000 after purchasing an additional 654,826 shares during the period. Alliancebernstein L.P. grew its holdings in Copart by 9.6% in the fourth quarter. Alliancebernstein L.P. now owns 7,591,312 shares of the business services provider’s stock worth $1,150,995,000 after purchasing an additional 667,084 shares during the period. Geode Capital Management LLC grew its holdings in Copart by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 4,045,233 shares of the business services provider’s stock worth $611,776,000 after purchasing an additional 156,743 shares during the period. Finally, Capital Research Global Investors grew its holdings in Copart by 2.8% in the fourth quarter. Capital Research Global Investors now owns 3,756,052 shares of the business services provider’s stock worth $569,493,000 after purchasing an additional 102,421 shares during the period. Hedge funds and other institutional investors own 87.14% of the company’s stock.

Copart Trading Up 0.1 %

Shares of NASDAQ CPRT opened at $130.34 on Friday. The firm’s 50 day moving average price is $114.84 and its 200-day moving average price is $118.76. The company has a market cap of $30.98 billion, a PE ratio of 29.03 and a beta of 1.15. Copart, Inc. has a 52-week low of $102.21 and a 52-week high of $161.12. The company has a debt-to-equity ratio of 0.09, a quick ratio of 5.35 and a current ratio of 5.47.

Copart (NASDAQ:CPRTGet Rating) last issued its quarterly earnings data on Wednesday, May 18th. The business services provider reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.02. The company had revenue of $939.94 million for the quarter, compared to the consensus estimate of $860.41 million. Copart had a net margin of 32.15% and a return on equity of 26.69%. During the same quarter in the prior year, the firm earned $1.09 earnings per share. On average, equities research analysts expect that Copart, Inc. will post 4.42 EPS for the current fiscal year.

Insider Activity at Copart

In related news, Director Matt Blunt sold 10,000 shares of the stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $115.72, for a total transaction of $1,157,200.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Copart news, Director Daniel J. Englander sold 80,000 shares of the stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $110.78, for a total value of $8,862,400.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Matt Blunt sold 10,000 shares of the stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $115.72, for a total transaction of $1,157,200.00. The disclosure for this sale can be found here. 11.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CPRT shares. Guggenheim cut their price objective on shares of Copart to $151.00 in a report on Friday, May 20th. Stephens upped their target price on shares of Copart to $145.00 and gave the stock an “overweight” rating in a research note on Friday, May 20th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Copart currently has an average rating of “Hold” and an average target price of $157.75.

About Copart

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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.

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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