Meeder Asset Management Inc. lifted its position in shares of Copart, Inc. (NASDAQ:CPRT) by 21.0% during the second quarter, Holdings Channel reports. The institutional investor owned 28,964 shares of the business services provider’s stock after purchasing an additional 5,029 shares during the period. Meeder Asset Management Inc.’s holdings in Copart were worth $2,165,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. FMR LLC lifted its stake in Copart by 17.2% in the 1st quarter. FMR LLC now owns 7,226,373 shares of the business services provider’s stock worth $437,846,000 after purchasing an additional 1,059,798 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Copart by 14.8% in the 1st quarter. Wells Fargo & Company MN now owns 3,762,177 shares of the business services provider’s stock worth $227,951,000 after purchasing an additional 483,889 shares in the last quarter. Blair William & Co. IL lifted its stake in Copart by 49.5% in the 1st quarter. Blair William & Co. IL now owns 848,458 shares of the business services provider’s stock worth $51,408,000 after purchasing an additional 280,915 shares in the last quarter. WINTON GROUP Ltd lifted its stake in Copart by 1,572.8% in the 2nd quarter. WINTON GROUP Ltd now owns 288,327 shares of the business services provider’s stock worth $21,550,000 after purchasing an additional 271,091 shares in the last quarter. Finally, Wafra Inc. purchased a new stake in Copart in the 1st quarter worth $15,691,000. Institutional investors and hedge funds own 82.50% of the company’s stock.

A number of analysts have recently weighed in on CPRT shares. Barrington Research restated a “hold” rating on shares of Copart in a report on Friday, May 24th. SunTrust Banks boosted their target price on shares of Copart to $78.00 and gave the stock a “buy” rating in a report on Friday, May 24th. Zacks Investment Research upgraded shares of Copart from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Monday, May 27th. Guggenheim downgraded shares of Copart from a “buy” rating to a “neutral” rating and set a $67.07 target price on the stock. in a report on Friday, May 17th. Finally, BidaskClub downgraded shares of Copart from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $66.77.

In related news, Director Matt Blunt sold 50,000 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $71.00, for a total transaction of $3,550,000.00. Following the transaction, the director now directly owns 50,000 shares in the company, valued at approximately $3,550,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William E. Franklin sold 100,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $71.37, for a total transaction of $7,137,000.00. Following the transaction, the executive vice president now owns 67,967 shares in the company, valued at $4,850,804.79. The disclosure for this sale can be found here. Insiders have sold a total of 423,458 shares of company stock worth $31,198,755 over the last quarter. 15.99% of the stock is currently owned by insiders.

Shares of Copart stock traded down $0.55 during trading hours on Tuesday, reaching $75.63. The company’s stock had a trading volume of 11,154 shares, compared to its average volume of 1,255,417. The firm has a 50 day moving average price of $76.50 and a 200-day moving average price of $67.09. Copart, Inc. has a one year low of $44.61 and a one year high of $79.74. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.07 and a quick ratio of 1.99. The stock has a market cap of $17.30 billion, a P/E ratio of 43.73, a P/E/G ratio of 1.50 and a beta of 0.82.

Copart (NASDAQ:CPRT) last posted its earnings results on Wednesday, May 22nd. The business services provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. Copart had a net margin of 28.12% and a return on equity of 31.33%. The firm had revenue of $553.12 million for the quarter, compared to the consensus estimate of $535.62 million. During the same period in the previous year, the firm posted $0.52 EPS. The business’s quarterly revenue was up 15.7% on a year-over-year basis. As a group, sell-side analysts forecast that Copart, Inc. will post 2.21 EPS for the current fiscal 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 on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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