Edgestream Partners L.P. Has $10.96 Million Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Edgestream Partners L.P. boosted its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 2,653.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 193,729 shares of the business services provider's stock after buying an additional 186,692 shares during the quarter. Copart makes up about 0.4% of Edgestream Partners L.P.'s investment portfolio, making the stock its 27th largest position. Edgestream Partners L.P.'s holdings in Copart were worth $10,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of CPRT. Norges Bank acquired a new stake in Copart in the 4th quarter valued at $682,089,000. Edgewood Management LLC boosted its stake in 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 boosted its stake in 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. boosted its stake in 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. boosted its stake in 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.

Copart Stock Performance

Copart stock traded down $1.03 on Tuesday, reaching $46.10. The company's stock had a trading volume of 6,587,712 shares, compared to its average volume of 4,955,903. The company has a market cap of $44.57 billion, a price-to-earnings ratio of 30.33 and a beta of 1.07. The business's fifty day moving average price is $53.03 and its 200 day moving average price is $55.68. Copart, Inc. has a twelve month low of $45.59 and a twelve 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 return on equity of 18.20% and a net margin of 32.21%. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the firm earned $0.39 earnings per share. The business's revenue was up 7.5% on a year-over-year basis. As a group, equities analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CPRT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reduced their price objective on Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Stephens initiated coverage on Copart in a research note on Tuesday, July 8th. They issued an "equal weight" rating and a $50.00 price objective on the 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.