Bank of New York Mellon Corp Has $1.07 Billion Stock Position in Copart, Inc. (NASDAQ:CPRT)

Bank of New York Mellon Corp lessened its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 2.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,881,860 shares of the business services provider's stock after selling 558,186 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.95% of Copart worth $1,068,524,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Copart by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 102,129,032 shares of the business services provider's stock worth $5,861,185,000 after buying an additional 976,909 shares during the period. Principal Financial Group Inc. raised its position 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 worth $2,230,177,000 after acquiring an additional 1,249,687 shares during the last quarter. Edgewood Management LLC raised its position in shares of Copart by 14.1% during the fourth quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider's stock worth $1,346,548,000 after acquiring an additional 2,907,405 shares during the last quarter. Capital World Investors raised 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 during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Copart by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 19,172,603 shares of the business services provider's stock valued at $1,097,153,000 after purchasing an additional 408,677 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Argus cut Copart from a "buy" rating to a "hold" rating in a research report on Friday, March 14th.

Insider Transactions at Copart

In other Copart news, Director Steven D. Cohan sold 94,997 shares of the firm's stock in a transaction on Monday, April 14th. The stock was 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 SEC, which is available at this link. 9.68% of the stock is owned by corporate insiders.

Copart Stock Performance

Shares of NASDAQ CPRT opened at $49.29 on Friday. The stock has a 50 day moving average price of $54.28 and a 200 day moving average price of $56.09. Copart, Inc. has a 52 week low of $47.33 and a 52 week high of $64.38. The stock has a market capitalization of $47.66 billion, a PE ratio of 32.42 and a beta of 1.07.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The firm had revenue of $1.21 billion for 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 revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.39 earnings per share. As a group, research analysts forecast that Copart, Inc. will post 1.57 EPS for the current year.

Copart 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.

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