China Universal Asset Management Co. Ltd. Has $1.35 Million Stock Position in Copart, Inc. (NASDAQ:CPRT)

China Universal Asset Management Co. Ltd. increased its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 52.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Envestnet Asset Management Inc. grew its holdings in shares of Copart by 1.8% during the first quarter. Envestnet Asset Management Inc. now owns 4,151,771 shares of the business services provider's stock worth $234,949,000 after purchasing an additional 73,157 shares during the last quarter. Drake & Associates LLC grew its holdings in Copart by 13.1% during the 1st quarter. Drake & Associates LLC now owns 8,360 shares of the business services provider's stock worth $473,000 after acquiring an additional 971 shares during the last quarter. Crew Capital Management Ltd. raised its stake in shares of Copart by 3.9% in the first quarter. Crew Capital Management Ltd. now owns 14,994 shares of the business services provider's stock worth $849,000 after acquiring an additional 569 shares during the last quarter. Cloud Capital Management LLC acquired a new position in shares of Copart during the first quarter worth approximately $26,000. Finally, Wayfinding Financial LLC acquired a new position in shares of Copart during the first quarter worth approximately $65,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Stephens initiated coverage on shares of Copart in a research report on Tuesday. They issued an "equal weight" rating and a $50.00 price objective for the company. Argus cut Copart from a "buy" rating to a "hold" rating in a research note on Friday, March 14th. Finally, JPMorgan Chase & Co. cut their price target on Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd.

Copart Trading Up 0.9%

Shares of NASDAQ:CPRT traded up $0.45 during trading on Thursday, hitting $48.09. 5,736,999 shares of the company's stock were exchanged, compared to its average volume of 4,904,833. The firm has a market cap of $46.50 billion, a P/E ratio of 31.66 and a beta of 1.07. The firm has a 50-day moving average price of $53.56 and a two-hundred 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.

Copart (NASDAQ:CPRT - Get Free Report) last issued its earnings results on Thursday, May 22nd. The business services provider reported $0.42 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 company had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter in the previous year, the company posted $0.39 EPS. The business's revenue for the quarter was up 7.5% compared to the same quarter last year. As a group, research analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Insider Buying and Selling

In other Copart news, Director Steven D. Cohan sold 94,997 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $60.01, for a total transaction of $5,700,769.97. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 9.68% of the company's stock.

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.