Copart, Inc. (CPRT) Shares Bought by State Treasurer State of Michigan

State Treasurer State of Michigan lifted its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 1,018.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 668,900 shares of the business services provider’s stock after purchasing an additional 609,100 shares during the period. State Treasurer State of Michigan owned about 0.29% of Copart worth $34,468,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Bank of America Corp DE raised its stake in Copart by 1.2% during the second quarter. Bank of America Corp DE now owns 1,441,175 shares of the business services provider’s stock worth $81,512,000 after acquiring an additional 16,905 shares during the period. Schroder Investment Management Group raised its stake in Copart by 62.9% during the second quarter. Schroder Investment Management Group now owns 516,749 shares of the business services provider’s stock worth $28,944,000 after acquiring an additional 199,533 shares during the period. Moneta Group Investment Advisors LLC raised its stake in Copart by 119.4% during the second quarter. Moneta Group Investment Advisors LLC now owns 3,400 shares of the business services provider’s stock worth $192,000 after acquiring an additional 1,850 shares during the period. FMR LLC raised its stake in Copart by 27.3% during the second quarter. FMR LLC now owns 6,625,549 shares of the business services provider’s stock worth $374,741,000 after acquiring an additional 1,420,739 shares during the period. Finally, United Services Automobile Association raised its stake in Copart by 161.5% during the second quarter. United Services Automobile Association now owns 85,521 shares of the business services provider’s stock worth $4,837,000 after acquiring an additional 52,813 shares during the period. 82.68% of the stock is currently owned by institutional investors and hedge funds.

CPRT has been the topic of several research reports. BidaskClub lowered shares of Copart from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 4th. Zacks Investment Research upgraded shares of Copart from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Tuesday, July 17th. Northcoast Research reiterated a “neutral” rating on shares of Copart in a research note on Monday, September 17th. Barrington Research reiterated a “hold” rating on shares of Copart in a research note on Tuesday, September 18th. Finally, SunTrust Banks set a $63.00 price objective on shares of Copart and gave the stock a “buy” rating in a research note on Thursday, September 20th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. Copart presently has a consensus rating of “Hold” and a consensus target price of $55.14.



Shares of NASDAQ:CPRT traded down $1.15 during trading hours on Friday, hitting $47.26. The stock had a trading volume of 2,317,400 shares, compared to its average volume of 2,074,278. Copart, Inc. has a 1-year low of $35.32 and a 1-year high of $67.08. The firm has a market capitalization of $11.81 billion, a P/E ratio of 27.32, a PEG ratio of 1.03 and a beta of 0.99. The company has a current ratio of 2.56, a quick ratio of 2.50 and a debt-to-equity ratio of 0.25.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Wednesday, September 19th. The business services provider reported $0.42 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.06). Copart had a net margin of 23.14% and a return on equity of 29.92%. The firm had revenue of $449.20 million during the quarter, compared to analyst estimates of $448.64 million. During the same quarter in the previous year, the business posted $0.35 EPS. Copart’s revenue for the quarter was up 18.6% compared to the same quarter last year. Analysts predict that Copart, Inc. will post 2.13 EPS for the current year.

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 to vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as for individual owners.

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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