Charles Schwab Investment Management Inc. Increases Stock Position in Copart, Inc. (NASDAQ:CPRT)

Charles Schwab Investment Management Inc. grew its stake in Copart, Inc. (NASDAQ:CPRT) by 0.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,355,612 shares of the business services provider’s stock after purchasing an additional 14,942 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.49% of Copart worth $214,855,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Copart by 1,212.2% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,110 shares of the business services provider’s stock valued at $390,000 after purchasing an additional 2,873 shares in the last quarter. Panagora Asset Management Inc. lifted its holdings in Copart by 14.6% during the first quarter. Panagora Asset Management Inc. now owns 8,456 shares of the business services provider’s stock valued at $1,061,000 after purchasing an additional 1,079 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in Copart by 52.1% during the first quarter. Vontobel Holding Ltd. now owns 10,823 shares of the business services provider’s stock valued at $1,380,000 after purchasing an additional 3,707 shares in the last quarter. National Pension Service lifted its holdings in Copart by 5.0% during the first quarter. National Pension Service now owns 286,903 shares of the business services provider’s stock valued at $35,998,000 after purchasing an additional 13,666 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Copart by 1.2% during the first quarter. Vanguard Group Inc. now owns 22,968,882 shares of the business services provider’s stock valued at $2,881,905,000 after purchasing an additional 270,867 shares in the last quarter. 79.26% of the stock is currently owned by institutional investors.

Copart Stock Performance

Shares of CPRT opened at $50.22 on Friday. The company’s fifty day moving average is $45.05 and its 200 day moving average is $46.39. Copart, Inc. has a fifty-two week low of $29.61 and a fifty-two week high of $51.53. The stock has a market capitalization of $48.22 billion, a PE ratio of 39.23 and a beta of 1.19.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, November 16th. The business services provider reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. Copart had a net margin of 31.99% and a return on equity of 22.46%. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $987.90 million. During the same quarter in the previous year, the business posted $0.25 earnings per share. Copart’s quarterly revenue was up 14.2% on a year-over-year basis. As a group, research analysts forecast that Copart, Inc. will post 1.42 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Matt Blunt sold 49,435 shares of the business’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $43.11, for a total value of $2,131,142.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Copart news, Director Stephen Fisher sold 160,000 shares of the business’s stock in a transaction on Monday, October 9th. The shares were sold at an average price of $45.69, for a total transaction of $7,310,400.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Matt Blunt sold 49,435 shares of the business’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $43.11, for a total transaction of $2,131,142.85. The disclosure for this sale can be found here. 10.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CPRT shares. JPMorgan Chase & Co. lifted their price objective on shares of Copart from $39.50 to $41.00 in a research report on Monday, September 18th. Robert W. Baird lifted their price objective on shares of Copart from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, September 15th. StockNews.com upgraded shares of Copart from a “hold” rating to a “buy” rating in a research report on Monday, October 30th. Finally, Argus started coverage on shares of Copart in a research report on Friday, September 8th. They set a “buy” rating and a $53.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $44.40.

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.