Wasatch Advisors LP Boosts Stake in Copart, Inc. (NASDAQ:CPRT)

Wasatch Advisors LP lifted its holdings in Copart, Inc. (NASDAQ:CPRT) by 2.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,758 shares of the business services provider’s stock after buying an additional 1,039 shares during the period. Wasatch Advisors LP’s holdings in Copart were worth $2,129,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CPRT. Perpetual Ltd increased its position in shares of Copart by 9.6% during the first quarter. Perpetual Ltd now owns 161,318 shares of the business services provider’s stock valued at $9,344,000 after acquiring an additional 14,126 shares during the last quarter. Baird Financial Group Inc. increased its position in shares of Copart by 15.9% during the fourth quarter. Baird Financial Group Inc. now owns 2,922,176 shares of the business services provider’s stock valued at $143,187,000 after acquiring an additional 400,940 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Copart by 64.1% during the fourth quarter. Nordea Investment Management AB now owns 1,441,839 shares of the business services provider’s stock valued at $70,448,000 after acquiring an additional 563,233 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Copart by 1.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,848,048 shares of the business services provider’s stock valued at $139,554,000 after acquiring an additional 44,248 shares during the last quarter. Finally, CHURCHILL MANAGEMENT Corp increased its position in shares of Copart by 57.9% during the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 63,521 shares of the business services provider’s stock valued at $3,113,000 after acquiring an additional 23,304 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Copart Trading Up 2.5 %

Shares of Copart stock traded up $1.34 during mid-day trading on Tuesday, hitting $54.69. 3,190,119 shares of the stock were exchanged, compared to its average volume of 4,514,154. Copart, Inc. has a twelve month low of $42.41 and a twelve month high of $58.58. The stock has a market capitalization of $52.63 billion, a price-to-earnings ratio of 38.51 and a beta of 1.28. The company has a 50-day simple moving average of $54.28 and a 200 day simple moving average of $52.70.

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

About Copart

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.