Copart, Inc. $CPRT Shares Bought by Lincoln Capital LLC

Key Points

• Lincoln Capital LLC increased its stake in Copart, Inc. by 72.7% during the 1st quarter, owning 82,838 shares valued at approximately $5 million.
• Despite a 7.5% year-over-year revenue increase, Copart reported earnings per share of $0.42 for the last quarter, meeting analyst expectations.
• Analysts have recently adjusted Copart's price target, with Robert W. Baird and JPMorgan Chase & Co. lowering their targets to $55.00, while maintaining their ratings.

Lincoln Capital LLC boosted its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 72.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 82,838 shares of the business services provider's stock after acquiring an additional 34,884 shares during the period. Copart comprises 1.0% of Lincoln Capital LLC's investment portfolio, making the stock its 22nd biggest holding. Lincoln Capital LLC's holdings in Copart were worth $5,004,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Copart by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider's stock worth $5,900,295,000 after buying an additional 2,134,890 shares during the last quarter. Principal Financial Group Inc. grew its stake in Copart by 3.3% during the 1st quarter. Principal Financial Group Inc. now owns 39,409,377 shares of the business services provider's stock worth $2,230,177,000 after buying an additional 1,249,687 shares during the last quarter. Capital World Investors grew its stake in Copart by 0.8% during the 4th quarter. Capital World Investors now owns 21,353,932 shares of the business services provider's stock worth $1,225,502,000 after buying an additional 169,354 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Copart by 15.9% during the 1st quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider's stock worth $868,417,000 after buying an additional 2,106,656 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Copart by 7.5% during the 1st quarter. Invesco Ltd. now owns 9,490,237 shares of the business services provider's stock worth $537,052,000 after buying an additional 658,329 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company's stock.

Copart Trading Up 0.5%

Shares of CPRT stock opened at $47.08 on Monday. The business's 50 day moving average is $47.55 and its two-hundred day moving average is $53.82. Copart, Inc. has a twelve month low of $45.05 and a twelve month high of $64.38. The company has a market capitalization of $45.52 billion, a P/E ratio of 30.97 and a beta of 1.04.

Copart (NASDAQ:CPRT - Get Free Report) last announced its earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, meeting the consensus estimate 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 the consensus estimate of $1.23 billion. During the same period last year, the business posted $0.39 EPS. The company's revenue was up 7.5% on a year-over-year basis. As a group, equities analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CPRT. Robert W. Baird dropped their price target on Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research note on Thursday, July 17th. 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 research note on Friday, May 23rd. Finally, Stephens initiated coverage on Copart in a research note on Tuesday, July 8th. They set an "equal weight" rating and a $50.00 price target on the stock.

Insider Buying and Selling at Copart

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

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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