Copart, Inc. (NASDAQ:CPRT) Stake Raised by Moran Wealth Management LLC

Moran Wealth Management LLC boosted its holdings in Copart, Inc. (NASDAQ:CPRT) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 109,431 shares of the business services provider’s stock after acquiring an additional 1,903 shares during the quarter. Moran Wealth Management LLC’s holdings in Copart were worth $6,193,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Mn Services Vermogensbeheer B.V. grew its stake in Copart by 2.5% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 339,680 shares of the business services provider’s stock valued at $19,494,000 after acquiring an additional 8,300 shares in the last quarter. National Pension Service lifted its holdings in shares of Copart by 3.2% during the fourth quarter. National Pension Service now owns 1,558,067 shares of the business services provider’s stock worth $89,417,000 after buying an additional 48,334 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Copart by 289.6% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 34,322 shares of the business services provider’s stock valued at $1,970,000 after purchasing an additional 25,512 shares during the period. Sowell Financial Services LLC bought a new stake in Copart in the first quarter valued at $604,000. Finally, Tsai Capital Corp grew its position in Copart by 13.3% in the fourth quarter. Tsai Capital Corp now owns 61,689 shares of the business services provider’s stock valued at $3,540,000 after acquiring an additional 7,230 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Price Performance

CPRT opened at $48.65 on Wednesday. The business has a fifty day simple moving average of $56.10 and a 200 day simple moving average of $56.76. The company has a market capitalization of $47.04 billion, a PE ratio of 32.01 and a beta of 1.10. Copart, Inc. has a 1 year low of $47.33 and a 1 year high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. Copart had a return on equity of 18.20% and a net margin of 32.21%. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the firm posted $0.39 earnings per share. The business’s quarterly revenue was up 7.5% on a year-over-year basis. Equities analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Steven D. Cohan sold 94,997 shares of Copart stock in a transaction on Monday, April 14th. The stock was sold at an average price of $60.01, for a total value of $5,700,769.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 9.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CPRT. Argus cut Copart from a “buy” rating to a “hold” rating in a report on Friday, March 14th. JPMorgan Chase & Co. cut their target price on Copart from $60.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd.

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.