Copart, Inc. $CPRT Stake Lowered by Wellington Management Group LLP

Key Points

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Wellington Management Group LLP cut its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 1.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,014,640 shares of the business services provider's stock after selling 142,666 shares during the quarter. Wellington Management Group LLP owned approximately 1.45% of Copart worth $793,088,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Aptus Capital Advisors LLC grew its holdings in Copart by 13.9% in the 1st quarter. Aptus Capital Advisors LLC now owns 273,481 shares of the business services provider's stock worth $15,476,000 after buying an additional 33,367 shares in the last quarter. Northern Trust Corp grew its holdings in Copart by 0.7% in the 1st quarter. Northern Trust Corp now owns 8,927,156 shares of the business services provider's stock worth $505,188,000 after buying an additional 61,855 shares in the last quarter. Brooklyn Investment Group grew its holdings in Copart by 4.0% in the 1st quarter. Brooklyn Investment Group now owns 5,780 shares of the business services provider's stock worth $327,000 after buying an additional 223 shares in the last quarter. Versor Investments LP bought a new position in Copart in the 1st quarter worth approximately $2,408,000. Finally, Burgundy Asset Management Ltd. grew its holdings in Copart by 7.3% in the 1st quarter. Burgundy Asset Management Ltd. now owns 780,701 shares of the business services provider's stock worth $44,180,000 after buying an additional 52,938 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the completion of the sale, the chief executive officer owned 31,527 shares in the company, valued at approximately $1,463,798.61. This represents a 43.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 9.68% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Stephens assumed coverage on Copart in a report on Tuesday, July 8th. They issued an "equal weight" rating and a $50.00 price objective for the company. JPMorgan Chase & Co. cut their target price on Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Finally, Robert W. Baird cut their target price on Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, July 17th.

Copart Price Performance

CPRT opened at $47.36 on Tuesday. The company has a market capitalization of $45.79 billion, a price-to-earnings ratio of 31.16 and a beta of 1.04. Copart, Inc. has a 1-year low of $45.05 and a 1-year high of $64.38. The business has a 50 day moving average price of $47.49 and a two-hundred day moving average price of $53.75.

Copart (NASDAQ:CPRT - Get Free Report) last released its earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, hitting analysts' consensus estimates of $0.42. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.23 billion. Copart had a return on equity of 18.20% and a net margin of 32.21%. The firm'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 firm posted $0.39 earnings per share. Equities analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

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.

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