China Universal Asset Management Co. Ltd. Purchases 8,181 Shares of Copart, Inc. (NASDAQ:CPRT)

China Universal Asset Management Co. Ltd. increased its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 52.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,862 shares of the business services provider's stock after acquiring an additional 8,181 shares during the quarter. China Universal Asset Management Co. Ltd.'s holdings in Copart were worth $1,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Cloud Capital Management LLC purchased a new stake in shares of Copart during the first quarter valued at approximately $26,000. Sandy Spring Bank grew its holdings in shares of Copart by 59.5% during the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock valued at $27,000 after buying an additional 176 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of Copart during the fourth quarter valued at approximately $31,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Copart during the fourth quarter valued at approximately $45,000. Finally, Versant Capital Management Inc grew its stake in shares of Copart by 1,567.9% in the first quarter. Versant Capital Management Inc now owns 884 shares of the business services provider's stock worth $50,000 after acquiring an additional 831 shares during the period. 85.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Copart

In other news, Director Steven D. Cohan sold 94,997 shares of the company's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $60.01, for a total value of $5,700,769.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 9.68% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on CPRT. Stephens initiated coverage on shares of Copart in a research note on Tuesday. They issued an "equal weight" rating and a $50.00 price target for the company. JPMorgan Chase & Co. dropped their price target on shares of Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Finally, Argus downgraded shares of Copart from a "buy" rating to a "hold" rating in a report on Friday, March 14th.

Copart Stock Down 1.0%

CPRT stock traded down $0.48 during trading on Friday, hitting $47.51. The company had a trading volume of 681,970 shares, compared to its average volume of 5,435,771. The firm has a market capitalization of $45.94 billion, a P/E ratio of 31.21 and a beta of 1.07. Copart, Inc. has a 52-week low of $47.33 and a 52-week high of $64.38. The company has a 50 day simple moving average of $53.31 and a 200-day simple moving average of $55.81.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, hitting 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 during the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter in the prior year, the company earned $0.39 EPS. The company's revenue was up 7.5% compared to the same quarter last year. Sell-side analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current 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.