Wasatch Advisors LP Purchases 1,039 Shares of Copart, Inc. (NASDAQ:CPRT)

Wasatch Advisors LP lifted its position in Copart, Inc. (NASDAQ:CPRT) by 2.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 36,758 shares of the business services provider’s stock after buying an additional 1,039 shares during the quarter. Wasatch Advisors LP’s holdings in Copart were worth $2,129,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Copart by 100.6% during the third quarter. Vanguard Group Inc. now owns 97,512,662 shares of the business services provider’s stock worth $4,201,821,000 after purchasing an additional 48,891,984 shares during the period. Capital World Investors boosted its position in Copart by 1.0% during the fourth quarter. Capital World Investors now owns 21,419,398 shares of the business services provider’s stock worth $1,049,551,000 after purchasing an additional 207,349 shares during the period. Wellington Management Group LLP boosted its position in Copart by 84.4% during the third quarter. Wellington Management Group LLP now owns 17,929,180 shares of the business services provider’s stock worth $772,568,000 after purchasing an additional 8,205,757 shares during the period. JPMorgan Chase & Co. boosted its position in Copart by 79.1% during the third quarter. JPMorgan Chase & Co. now owns 17,359,152 shares of the business services provider’s stock worth $748,006,000 after purchasing an additional 7,666,881 shares during the period. Finally, Morgan Stanley boosted its position in Copart by 102.2% during the third quarter. Morgan Stanley now owns 9,725,148 shares of the business services provider’s stock worth $419,057,000 after purchasing an additional 4,915,348 shares during the period. Institutional investors own 85.78% of the company’s stock.

Copart Stock Up 2.5 %

Shares of CPRT stock traded up $1.34 during trading hours on Tuesday, reaching $54.69. 3,190,119 shares of the company’s stock were exchanged, compared to its average volume of 4,514,154. Copart, Inc. has a fifty-two week low of $42.41 and a fifty-two week high of $58.58. The stock has a market capitalization of $52.63 billion, a P/E ratio of 38.51 and a beta of 1.28. The business has a fifty day moving average price of $54.28 and a 200-day moving average price of $52.70.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, May 16th. The business services provider reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.11 billion. Copart had a return on equity of 20.80% and a net margin of 33.33%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.36 earnings per share. As a group, research analysts expect that Copart, Inc. will post 1.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. upped their price target on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Copart presently has a consensus rating of “Hold” and a consensus price target of $51.00.

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.