Copart, Inc. (NASDAQ:CPRT) Shares Bought by China Universal Asset Management Co. Ltd.

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

Several other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its position in Copart by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 102,129,032 shares of the business services provider's stock valued at $5,861,185,000 after purchasing an additional 976,909 shares during the last quarter. Principal Financial Group Inc. lifted its position in Copart by 3.3% during 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 purchasing an additional 1,249,687 shares during the last quarter. Edgewood Management LLC lifted its position in Copart by 14.1% during 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 purchasing an additional 2,907,405 shares during the last quarter. Capital World Investors lifted its position in Copart by 0.8% during the fourth quarter. Capital World Investors now owns 21,353,932 shares of the business services provider's stock valued at $1,225,502,000 after purchasing an additional 169,354 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Copart by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 19,172,603 shares of the business services provider's stock worth $1,097,153,000 after acquiring an additional 408,677 shares during the last quarter. Institutional investors own 85.78% of the company's stock.

Analyst Ratings Changes

CPRT has been the subject of several analyst reports. Argus lowered shares of Copart from a "buy" rating to a "hold" rating in a report on Friday, March 14th. JPMorgan Chase & Co. cut their target price on shares of Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Finally, Stephens began coverage on shares of Copart in a research report on Tuesday. They set an "equal weight" rating and a $50.00 target price on the stock.

Copart Stock Down 1.8%

Shares of Copart stock traded down $0.87 on Wednesday, reaching $47.64. The stock had a trading volume of 7,218,319 shares, compared to its average volume of 4,900,750. The company has a 50 day moving average price of $53.56 and a 200 day moving average price of $55.88. Copart, Inc. has a 1 year low of $47.33 and a 1 year high of $64.38. The stock has a market capitalization of $46.07 billion, a P/E ratio of 31.34 and a beta of 1.07.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 the consensus estimate of $1.23 billion. During the same quarter in the previous year, the firm earned $0.39 EPS. The company's quarterly revenue was up 7.5% compared to the same quarter last year. On average, analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Steven D. Cohan sold 94,997 shares of Copart 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.68% of the stock is owned by company insiders.

Copart 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.