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Pittenger & Anderson Inc. Purchases 22,986 Shares of Copart, Inc. (NASDAQ:CPRT)

Copart logo with Business Services background

Pittenger & Anderson Inc. lifted its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 23.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 121,131 shares of the business services provider's stock after purchasing an additional 22,986 shares during the period. Pittenger & Anderson Inc.'s holdings in Copart were worth $6,855,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in Copart in the fourth quarter valued at $682,089,000. Edgewood Management LLC boosted its holdings in Copart by 14.1% in the fourth quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider's stock valued at $1,346,548,000 after acquiring an additional 2,907,405 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Copart by 14.4% in the fourth quarter. Wellington Management Group LLP now owns 14,157,306 shares of the business services provider's stock valued at $812,488,000 after acquiring an additional 1,785,741 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Copart by 58.8% in the fourth quarter. Franklin Resources Inc. now owns 4,296,060 shares of the business services provider's stock valued at $246,551,000 after acquiring an additional 1,590,706 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Copart by 3.3% in the first quarter. Principal Financial Group Inc. now owns 39,409,377 shares of the business services provider's stock valued at $2,230,177,000 after acquiring an additional 1,249,687 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Copart news, Director Steven D. Cohan sold 94,997 shares of the business's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $60.01, for a total value of $5,700,769.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.68% of the company's stock.

Copart Stock Performance

Shares of CPRT traded down $0.53 during trading hours on Friday, hitting $47.46. The company had a trading volume of 5,070,408 shares, compared to its average volume of 4,925,890. The firm has a fifty day moving average price of $53.03 and a 200-day moving average price of $55.71. The stock has a market capitalization of $45.89 billion, a price-to-earnings ratio of 31.22 and a beta of 1.07. Copart, Inc. has a 52-week low of $47.33 and a 52-week high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last issued 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. Copart had a return on equity of 18.20% and a net margin of 32.21%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the firm earned $0.39 EPS. Copart's revenue was up 7.5% on a year-over-year basis. Research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Check Out Our Latest Analysis on CPRT

Copart Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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