Baird Financial Group Inc. Purchases 44,849 Shares of Copart, Inc. $CPRT

Key Points

• Baird Financial Group Inc. increased its holdings in Copart, Inc. by 2.4%, owning 1,890,124 shares worth approximately $106.96 million as of the latest reporting period.
• The stock has experienced a price fluctuation, with a 1-year low of $45.05 and a high of $64.38, currently trading around $48.81.
• Recent analyst ratings show mixed views, with target prices decreased, including a drop from $60.00 to $55.00 by JPMorgan Chase & Co., and a consensus target price of $53.33.

Baird Financial Group Inc. increased its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,890,124 shares of the business services provider's stock after purchasing an additional 44,849 shares during the quarter. Baird Financial Group Inc. owned about 0.20% of Copart worth $106,962,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Copart by 2.1% during the first quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider's stock valued at $5,900,295,000 after purchasing an additional 2,134,890 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Copart by 3.3% during the first quarter. Principal Financial Group Inc. now owns 39,409,377 shares of the business services provider's stock valued at $2,230,177,000 after purchasing an additional 1,249,687 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Copart by 15.9% during the first quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider's stock valued at $868,417,000 after purchasing an additional 2,106,656 shares during the last quarter. Invesco Ltd. grew its stake in shares of Copart by 7.5% during the first quarter. Invesco Ltd. now owns 9,490,237 shares of the business services provider's stock valued at $537,052,000 after purchasing an additional 658,329 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Copart by 0.7% during the first quarter. Northern Trust Corp now owns 8,927,156 shares of the business services provider's stock valued at $505,188,000 after purchasing an additional 61,855 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CPRT has been the topic of several research analyst reports. JPMorgan Chase & Co. decreased their price target on shares of Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Stephens began coverage on shares of Copart in a research note on Tuesday, July 8th. They issued an "equal weight" rating and a $50.00 price objective on the stock. Finally, Robert W. Baird reduced their price objective on shares of Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research note on Thursday, July 17th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $53.33.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of Copart stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the transaction, the chief executive officer directly owned 31,527 shares of the company's stock, valued at $1,463,798.61. This trade represents a 43.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.68% of the stock is currently owned by corporate insiders.

Copart Stock Up 0.1%

CPRT stock traded up $0.06 during midday trading on Monday, reaching $48.81. The company's stock had a trading volume of 5,330,175 shares, compared to its average volume of 5,537,744. Copart, Inc. has a 52 week low of $45.05 and a 52 week high of $64.38. The stock has a market cap of $47.20 billion, a PE ratio of 32.11 and a beta of 1.03. The business's 50-day simple moving average is $47.43 and its 200-day simple moving average is $53.02.

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.