Massachusetts Financial Services Co. MA Has $280.28 Million Holdings in Copart, Inc. (NASDAQ:CPRT)

Massachusetts Financial Services Co. MA boosted its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 0.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,952,853 shares of the business services provider's stock after buying an additional 30,424 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.51% of Copart worth $280,282,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Copart in the 4th quarter valued at $682,089,000. Edgewood Management LLC increased its position in shares of Copart by 14.1% in the 4th quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider's stock valued at $1,346,548,000 after buying an additional 2,907,405 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Copart by 14.4% in the 4th quarter. Wellington Management Group LLP now owns 14,157,306 shares of the business services provider's stock valued at $812,488,000 after buying an additional 1,785,741 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Copart by 58.8% in the 4th quarter. Franklin Resources Inc. now owns 4,296,060 shares of the business services provider's stock valued at $246,551,000 after buying an additional 1,590,706 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Copart by 3.3% in the 1st 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 buying an additional 1,249,687 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company's stock.

Insider Transactions at Copart

In related news, CEO Jeffrey Liaw sold 24,088 shares of the firm's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total value of $1,118,405.84. Following the completion of the sale, the chief executive officer directly owned 31,527 shares in the company, valued at approximately $1,463,798.61. This trade represents a 43.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 9.68% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on CPRT. Robert W. Baird lowered their price objective on shares of Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday. JPMorgan Chase & Co. lowered their price objective 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, Stephens began coverage on shares of Copart in a research report on Tuesday, July 8th. They issued an "equal weight" rating and a $50.00 price objective for the company.

Copart Price Performance

CPRT stock traded up $0.06 during trading hours on Thursday, reaching $46.04. 6,486,512 shares of the stock were exchanged, compared to its average volume of 5,019,819. The firm's 50-day moving average is $52.15 and its 200-day moving average is $55.47. The company has a market cap of $44.51 billion, a price-to-earnings ratio of 30.30 and a beta of 1.07. Copart, Inc. has a 12 month low of $45.52 and a 12 month high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last posted 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. 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 the consensus estimate of $1.23 billion. During the same period in the prior year, the business posted $0.39 EPS. The company's quarterly revenue was up 7.5% on a year-over-year basis. As a group, equities research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

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.