Cerity Partners LLC Boosts Stake in Copart, Inc. (NASDAQ:CPRT)

Cerity Partners LLC boosted its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 3.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 307,082 shares of the business services provider's stock after purchasing an additional 9,415 shares during the quarter. Cerity Partners LLC's holdings in Copart were worth $17,378,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Copart by 289.6% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 34,322 shares of the business services provider's stock valued at $1,970,000 after buying an additional 25,512 shares during the last quarter. Sowell Financial Services LLC purchased a new position in shares of Copart during the first quarter valued at approximately $604,000. Tsai Capital Corp boosted its position in shares of Copart by 13.3% during the fourth quarter. Tsai Capital Corp now owns 61,689 shares of the business services provider's stock valued at $3,540,000 after buying an additional 7,230 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in shares of Copart by 52.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 23,862 shares of the business services provider's stock valued at $1,350,000 after buying an additional 8,181 shares during the last quarter. Finally, Voleon Capital Management LP bought a new stake in Copart during the fourth quarter worth $1,314,000. 85.78% of the stock is currently owned by institutional investors.

Copart Price Performance

Shares of CPRT traded down $0.75 during mid-day trading on Tuesday, hitting $46.38. The stock had a trading volume of 4,069,682 shares, compared to its average volume of 4,946,100. The firm has a market cap of $44.85 billion, a P/E ratio of 30.56 and a beta of 1.07. The business has a fifty day moving average price of $53.03 and a 200-day moving average price of $55.68. Copart, Inc. has a 52 week low of $45.59 and a 52 week high of $64.38.

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 analysts' consensus estimates of $0.42. Copart had a return on equity of 18.20% and a net margin of 32.21%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the company posted $0.39 EPS. The firm's revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. JPMorgan Chase & Co. dropped 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. Stephens assumed coverage on Copart in a report on Tuesday, July 8th. They set an "equal weight" rating and a $50.00 price target on the stock.

About Copart

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.