ASR Vermogensbeheer N.V. Invests $1.24 Million in Copart, Inc. (NASDAQ:CPRT)

Key Points

• ASR Vermogensbeheer N.V. has invested $1.24 million in Copart, Inc. by purchasing approximately 21,855 shares in the first quarter of the year.
• Various institutional investors have also recently increased their stakes in Copart, with hedge funds and other institutions owning 85.78% of the company's stock.
• JPMorgan Chase & Co. and Robert W. Baird have recently modified their target prices for Copart, indicating varying expectations about the company's future performance.

ASR Vermogensbeheer N.V. acquired a new stake in Copart, Inc. (NASDAQ:CPRT - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 21,855 shares of the business services provider's stock, valued at approximately $1,237,000.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Copart by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider's stock worth $5,900,295,000 after buying an additional 2,134,890 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Copart by 3.3% in the 1st quarter. Principal Financial Group Inc. now owns 39,409,377 shares of the business services provider's stock worth $2,230,177,000 after buying an additional 1,249,687 shares during the period. Capital World Investors lifted its position in shares of Copart by 0.8% during the fourth quarter. Capital World Investors now owns 21,353,932 shares of the business services provider's stock worth $1,225,502,000 after acquiring an additional 169,354 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Copart by 12.3% in the fourth quarter. Northern Trust Corp now owns 8,865,301 shares of the business services provider's stock worth $508,780,000 after acquiring an additional 971,940 shares during the period. Finally, Royal Bank of Canada boosted its holdings in shares of Copart by 4.2% in the fourth quarter. Royal Bank of Canada now owns 6,151,038 shares of the business services provider's stock worth $353,008,000 after acquiring an additional 246,569 shares during the period. Institutional investors own 85.78% of the company's stock.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of the stock in a transaction on 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 sale, the chief executive officer directly owned 31,527 shares of the company's stock, valued at approximately $1,463,798.61. This represents a 43.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 9.68% of the company's stock.

Copart Trading Up 1.1%

Shares of NASDAQ:CPRT traded up $0.50 during trading on Monday, reaching $46.69. 5,514,446 shares of the company traded hands, compared to its average volume of 5,700,750. Copart, Inc. has a 52-week low of $45.05 and a 52-week high of $64.38. The firm has a market capitalization of $45.15 billion, a price-to-earnings ratio of 30.72 and a beta of 1.04. The business's fifty day moving average is $47.88 and its 200-day moving average is $54.19.

Copart (NASDAQ:CPRT - Get Free Report) last announced its earnings results on Thursday, May 22nd. The business services provider reported $0.42 EPS for the quarter, meeting analysts' consensus estimates of $0.42. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.23 billion. Copart had a return on equity of 18.20% and a net margin of 32.21%. The firm's revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 earnings per share. On average, sell-side analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

CPRT has been the subject of several recent analyst reports. Stephens initiated coverage on shares of Copart in a research note 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 shares of Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research note on Thursday, July 17th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd.

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.