Envestnet Asset Management Inc. Boosts Position in Copart, Inc. (NASDAQ:CPRT)

Envestnet Asset Management Inc. lifted its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 1.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,151,771 shares of the business services provider's stock after purchasing an additional 73,157 shares during the quarter. Envestnet Asset Management Inc. owned about 0.43% of Copart worth $234,949,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Copart by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 102,129,032 shares of the business services provider's stock worth $5,861,185,000 after buying an additional 976,909 shares during the period. Principal Financial Group Inc. lifted its position in shares of Copart by 3.3% during 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. Edgewood Management LLC lifted its position in shares of Copart by 14.1% during 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. Capital World Investors lifted its position in shares of Copart by 0.8% during the 4th quarter. Capital World Investors now owns 21,353,932 shares of the business services provider's stock valued at $1,225,502,000 after buying an additional 169,354 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Copart by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 19,172,603 shares of the business services provider's stock valued at $1,097,153,000 after buying an additional 408,677 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity at Copart

In other news, Director Steven D. Cohan sold 94,997 shares of the business'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 filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 9.68% of the company's stock.

Copart Stock Down 1.1%

NASDAQ CPRT traded down $0.53 during trading on Friday, hitting $47.46. The stock had a trading volume of 4,983,966 shares, compared to its average volume of 5,470,354. The company has a market capitalization of $45.89 billion, a PE ratio of 31.22 and a beta of 1.07. The firm has a 50 day moving average price of $53.31 and a 200 day moving average price of $55.81. Copart, Inc. has a twelve month low of $47.33 and a twelve month high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last released its earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, meeting the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the company posted $0.39 EPS. Copart's revenue was up 7.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

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.