Canoe Financial LP lifted its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 55.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 216,327 shares of the business services provider's stock after purchasing an additional 77,100 shares during the period. Canoe Financial LP's holdings in Copart were worth $12,242,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in Copart by 92.1% in the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider's stock valued at $816,000 after acquiring an additional 6,817 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in Copart by 5.8% in the fourth quarter. Sanctuary Advisors LLC now owns 55,822 shares of the business services provider's stock valued at $3,269,000 after acquiring an additional 3,055 shares during the last quarter. Ieq Capital LLC boosted its holdings in Copart by 12.8% in the fourth quarter. Ieq Capital LLC now owns 113,573 shares of the business services provider's stock valued at $6,518,000 after acquiring an additional 12,928 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in Copart by 21.3% in the fourth quarter. Handelsbanken Fonder AB now owns 557,126 shares of the business services provider's stock valued at $31,973,000 after acquiring an additional 97,875 shares during the last quarter. Finally, Suncoast Equity Management boosted its holdings in Copart by 8.0% in the fourth quarter. Suncoast Equity Management now owns 30,220 shares of the business services provider's stock valued at $1,734,000 after acquiring an additional 2,230 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.
Copart Stock Performance
Copart stock opened at $47.97 on Friday. The stock has a market capitalization of $46.38 billion, a price-to-earnings ratio of 31.56 and a beta of 1.10. Copart, Inc. has a 52-week low of $47.70 and a 52-week high of $64.38. The stock's 50 day moving average price is $56.58 and its two-hundred day moving average price is $56.99.
Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.42. The firm had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.23 billion. Copart had a return on equity of 18.20% and a net margin of 32.21%. The company's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.39 EPS. On average, equities research analysts forecast that Copart, Inc. will post 1.57 EPS for the current year.
Insider Transactions at Copart
In other news, Director Steven D. Cohan sold 94,997 shares of the company's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $60.01, for a total transaction of $5,700,769.97. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.68% of the stock is owned by insiders.
Wall Street Analyst Weigh In
CPRT has been the topic of several analyst reports. Argus cut Copart from a "buy" rating to a "hold" rating in a report on Friday, March 14th. JPMorgan Chase & Co. cut their price target on Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd.
Check Out Our Latest Report on CPRT
About Copart
(
Free Report)
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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