United Services Automobile Association Has $1.10 Million Holdings in Copart, Inc. (NASDAQ:CPRT)

United Services Automobile Association reduced its stake in Copart, Inc. (NASDAQ:CPRT) by 17.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,971 shares of the business services provider’s stock after selling 4,487 shares during the quarter. United Services Automobile Association’s holdings in Copart were worth $1,099,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its position in shares of Copart by 2.5% during the third quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock worth $2,037,130,000 after buying an additional 941,858 shares during the period. State Street Corp boosted its position in Copart by 0.4% during the 3rd quarter. State Street Corp now owns 34,157,967 shares of the business services provider’s stock worth $1,789,877,000 after acquiring an additional 120,939 shares during the last quarter. Edgewood Management LLC grew its stake in shares of Copart by 0.6% during the 3rd quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider’s stock worth $1,077,119,000 after acquiring an additional 125,220 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Copart by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider’s stock valued at $867,017,000 after purchasing an additional 1,199,781 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Copart by 0.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,898,956 shares of the business services provider’s stock worth $427,807,000 after purchasing an additional 30,454 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CPRT shares. JPMorgan Chase & Co. raised their target price on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Robert W. Baird decreased their price objective on Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a report on Thursday, September 5th.

Insider Activity

In related news, Chairman A Jayson Adair sold 251,423 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total value of $16,038,273.17. Following the completion of the sale, the chairman now owns 14,436,557 shares in the company, valued at $920,907,971.03. The trade was a 1.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 9.68% of the company’s stock.

Copart Trading Up 0.3 %

NASDAQ CPRT opened at $62.08 on Friday. Copart, Inc. has a 12 month low of $46.21 and a 12 month high of $64.38. The company has a market cap of $59.82 billion, a PE ratio of 43.72 and a beta of 1.31. The stock has a 50 day moving average of $56.07 and a 200-day moving average of $53.76.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.37. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.10 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. The firm’s revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 EPS. As a group, sell-side analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Copart 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.