Azzad Asset Management Inc. ADV Takes Position in Copart, Inc. (NASDAQ:CPRT)

Azzad Asset Management Inc. ADV acquired a new stake in Copart, Inc. (NASDAQ:CPRT - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 48,464 shares of the business services provider's stock, valued at approximately $2,743,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of Copart by 92.1% during the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider's stock valued at $816,000 after purchasing an additional 6,817 shares during the period. Kestra Private Wealth Services LLC increased its stake in Copart by 8.3% in the 4th quarter. Kestra Private Wealth Services LLC now owns 14,350 shares of the business services provider's stock worth $824,000 after buying an additional 1,099 shares in the last quarter. Savant Capital LLC increased its stake in Copart by 13.5% in the 4th quarter. Savant Capital LLC now owns 8,725 shares of the business services provider's stock worth $501,000 after buying an additional 1,035 shares in the last quarter. V Square Quantitative Management LLC increased its stake in Copart by 6.0% in the 4th quarter. V Square Quantitative Management LLC now owns 14,712 shares of the business services provider's stock worth $844,000 after buying an additional 832 shares in the last quarter. Finally, ABC Arbitrage SA purchased a new stake in Copart in the 4th quarter worth $1,149,000. 85.78% of the stock is owned by institutional investors.

Copart Stock Down 0.2%

CPRT stock traded down $0.09 during trading on Wednesday, reaching $47.91. The company's stock had a trading volume of 3,015,988 shares, compared to its average volume of 4,814,937. Copart, Inc. has a 1 year low of $47.70 and a 1 year high of $64.38. The company has a market capitalization of $46.32 billion, a P/E ratio of 31.48 and a beta of 1.10. The company's fifty day moving average is $57.25 and its 200-day moving average is $57.25.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, meeting analysts' consensus estimates of $0.42. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.23 billion. Copart had a return on equity of 18.20% and a net margin of 32.21%. The business's quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.39 earnings per share. Analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on CPRT. Argus lowered Copart from a "buy" rating to a "hold" rating in a research note on Friday, March 14th. JPMorgan Chase & Co. cut their price target on Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd.

Insider Activity

In related news, Director Steven D. Cohan sold 94,997 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $60.01, for a total value of $5,700,769.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 9.68% of the company's stock.

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.