Copart, Inc. (NASDAQ:CPRT) is JLB & Associates Inc.'s 9th Largest Position

JLB & Associates Inc. cut its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 4.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 417,452 shares of the business services provider's stock after selling 18,063 shares during the quarter. Copart makes up about 3.3% of JLB & Associates Inc.'s investment portfolio, making the stock its 9th biggest position. JLB & Associates Inc.'s holdings in Copart were worth $23,624,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Sandy Spring Bank lifted its holdings in shares of Copart by 59.5% in the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock worth $27,000 after buying an additional 176 shares in the last quarter. Sunbelt Securities Inc. bought a new stake in Copart in the 4th quarter valued at $31,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Copart in the 4th quarter worth $45,000. Versant Capital Management Inc boosted its holdings in shares of Copart by 1,567.9% during the 1st quarter. Versant Capital Management Inc now owns 884 shares of the business services provider's stock valued at $50,000 after purchasing an additional 831 shares during the last quarter. Finally, Curio Wealth LLC purchased a new position in shares of Copart during the fourth quarter valued at about $52,000. Institutional investors own 85.78% of the company's stock.

Wall Street Analysts Forecast Growth

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

Copart Stock Performance

CPRT stock traded up $0.09 during trading on Friday, hitting $47.97. 14,393,754 shares of the company's stock traded hands, compared to its average volume of 4,873,207. Copart, Inc. has a 52 week low of $47.70 and a 52 week high of $64.38. The stock has a market capitalization of $46.38 billion, a price-to-earnings ratio of 31.56 and a beta of 1.10. The business has a fifty day simple moving average of $56.82 and a 200 day simple moving average of $57.09.

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 (EPS) for the quarter, meeting the consensus estimate of $0.42. Copart had a net margin of 32.21% and a return on equity of 18.20%. The firm had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.23 billion. During the same period in the prior year, the company earned $0.39 EPS. The business's revenue was up 7.5% compared to the same quarter last year. Research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Copart news, Director Steven D. Cohan sold 5,003 shares of Copart stock in a transaction on Friday, April 11th. The shares were sold at an average price of $60.01, for a total transaction of $300,230.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.68% of the stock is currently owned by insiders.

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.