Copart, Inc. (NASDAQ:CPRT) Holdings Lifted by Ethic Inc.

Ethic Inc. increased its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 2.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 169,504 shares of the business services provider’s stock after buying an additional 3,331 shares during the quarter. Ethic Inc.’s holdings in Copart were worth $9,697,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Aberdeen Group plc grew its holdings in shares of Copart by 97.9% during the first quarter. Aberdeen Group plc now owns 497,460 shares of the business services provider’s stock valued at $27,935,000 after buying an additional 246,071 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Copart by 6.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,939,813 shares of the business services provider’s stock valued at $166,315,000 after buying an additional 187,848 shares in the last quarter. Horizon Investments LLC grew its holdings in shares of Copart by 5.1% during the first quarter. Horizon Investments LLC now owns 12,625 shares of the business services provider’s stock valued at $714,000 after buying an additional 607 shares in the last quarter. Harfst & Associates Inc. grew its holdings in shares of Copart by 256.6% during the first quarter. Harfst & Associates Inc. now owns 15,512 shares of the business services provider’s stock valued at $878,000 after buying an additional 11,162 shares in the last quarter. Finally, Sit Investment Associates Inc. grew its holdings in shares of Copart by 9.8% during the first quarter. Sit Investment Associates Inc. now owns 74,373 shares of the business services provider’s stock valued at $4,209,000 after buying an additional 6,650 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling at Copart

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of the business’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total value of $1,118,405.84. Following the completion of the sale, the chief executive officer owned 31,527 shares of the company’s stock, valued at $1,463,798.61. The trade was a 43.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.68% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on CPRT shares. Stephens started coverage on Copart in a research report on Tuesday, July 8th. They set an “equal weight” rating and a $50.00 price objective for the company. Robert W. Baird reduced their price objective on Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, July 17th. Finally, JPMorgan Chase & Co. reduced their price objective on Copart from $60.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, May 23rd.

Copart Trading Down 1.7%

CPRT opened at $46.86 on Friday. The stock has a market cap of $45.31 billion, a price-to-earnings ratio of 30.83 and a beta of 1.04. Copart, Inc. has a 1 year low of $45.05 and a 1 year high of $64.38. The stock has a fifty day moving average price of $47.61 and a 200 day moving average price of $53.95.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. Copart had a return on equity of 18.20% and a net margin of 32.21%. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the firm earned $0.39 earnings per share. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Copart, Inc. will post 1.57 earnings per share 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.