Motley Fool Asset Management LLC Boosts Stock Position in Copart, Inc. (NASDAQ:CPRT)

Motley Fool Asset Management LLC lifted its position in shares of Copart, Inc. (NASDAQ:CPRT) by 11.8% in the first quarter, HoldingsChannel.com reports. The firm owned 31,546 shares of the business services provider’s stock after purchasing an additional 3,322 shares during the period. Motley Fool Asset Management LLC’s holdings in Copart were worth $1,827,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Cadence Bank lifted its holdings in Copart by 0.6% in the first quarter. Cadence Bank now owns 31,371 shares of the business services provider’s stock worth $1,817,000 after buying an additional 187 shares during the period. Dorsey & Whitney Trust CO LLC lifted its holdings in Copart by 2.4% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 9,054 shares of the business services provider’s stock worth $524,000 after buying an additional 209 shares during the period. PDS Planning Inc lifted its holdings in Copart by 5.0% in the first quarter. PDS Planning Inc now owns 4,538 shares of the business services provider’s stock worth $263,000 after buying an additional 216 shares during the period. Rathbones Group PLC lifted its holdings in Copart by 2.9% in the fourth quarter. Rathbones Group PLC now owns 7,821 shares of the business services provider’s stock worth $383,000 after buying an additional 221 shares during the period. Finally, Panagora Asset Management Inc. lifted its holdings in Copart by 0.9% in the fourth quarter. Panagora Asset Management Inc. now owns 25,133 shares of the business services provider’s stock worth $1,232,000 after buying an additional 226 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Copart Stock Up 1.2 %

Shares of NASDAQ CPRT traded up $0.61 on Wednesday, reaching $52.33. 4,358,829 shares of the company’s stock traded hands, compared to its average volume of 4,480,857. Copart, Inc. has a 12 month low of $42.41 and a 12 month high of $58.58. The business’s 50 day simple moving average is $53.47 and its two-hundred day simple moving average is $53.39. The company has a market cap of $50.36 billion, a price-to-earnings ratio of 36.85 and a beta of 1.27.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, May 16th. The business services provider reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the firm earned $0.36 earnings per share. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. Analysts forecast that Copart, Inc. will post 1.43 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.