Copart, Inc. (NASDAQ:CPRT) Position Increased by Madison Asset Management LLC

Madison Asset Management LLC increased its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 5.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,651,616 shares of the business services provider's stock after buying an additional 231,234 shares during the period. Copart comprises about 2.9% of Madison Asset Management LLC's portfolio, making the stock its 2nd biggest position. Madison Asset Management LLC owned 0.48% of Copart worth $263,235,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Western Pacific Wealth Management LP grew its stake in shares of Copart by 6.5% in the first quarter. Western Pacific Wealth Management LP now owns 2,838 shares of the business services provider's stock worth $161,000 after purchasing an additional 173 shares in the last quarter. HighPoint Advisor Group LLC lifted its holdings in shares of Copart by 1.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 9,747 shares of the business services provider's stock valued at $577,000 after buying an additional 175 shares during the period. Blue Trust Inc. lifted its holdings in shares of Copart by 13.1% in the first quarter. Blue Trust Inc. now owns 1,510 shares of the business services provider's stock valued at $85,000 after buying an additional 175 shares during the period. Western Wealth Management LLC lifted its holdings in shares of Copart by 4.0% in the first quarter. Western Wealth Management LLC now owns 4,985 shares of the business services provider's stock valued at $282,000 after buying an additional 192 shares during the period. Finally, Nixon Peabody Trust Co. lifted its holdings in shares of Copart by 5.0% in the first quarter. Nixon Peabody Trust Co. now owns 4,108 shares of the business services provider's stock valued at $232,000 after buying an additional 195 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Trading Up 0.8%

Shares of NASDAQ CPRT opened at $46.39 on Wednesday. Copart, Inc. has a one year low of $45.52 and a one year high of $64.38. The firm has a market capitalization of $44.86 billion, a PE ratio of 30.52 and a beta of 1.07. The business has a 50-day moving average price of $51.52 and a two-hundred day moving average price of $55.29.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 EPS for the quarter, hitting analysts' consensus estimates of $0.42. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.23 billion. Copart had a return on equity of 18.20% and a net margin of 32.21%. The business's quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the company posted $0.39 EPS. Research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Robert W. Baird cut their price objective on Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday, July 17th. JPMorgan Chase & Co. decreased their price target 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, Stephens began coverage on Copart in a research report on Tuesday, July 8th. They issued an "equal weight" rating and a $50.00 price target for the company.

Insider Activity

In related news, CEO Jeffrey Liaw sold 24,088 shares of the firm's 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 of the company's stock, valued at approximately $1,463,798.61. This trade 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 link. 9.68% of the stock is currently owned by corporate insiders.

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.

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