Envestnet Portfolio Solutions Inc. Sells 35,788 Shares of Copart, Inc. (NASDAQ:CPRT)

Envestnet Portfolio Solutions Inc. lowered its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 21.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 127,538 shares of the business services provider's stock after selling 35,788 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Copart were worth $7,217,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Mn Services Vermogensbeheer B.V. raised its stake in shares of Copart by 2.5% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 339,680 shares of the business services provider's stock valued at $19,494,000 after buying an additional 8,300 shares during the period. National Pension Service raised its stake in shares of Copart by 3.2% in the fourth quarter. National Pension Service now owns 1,558,067 shares of the business services provider's stock valued at $89,417,000 after buying an additional 48,334 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Copart by 289.6% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 34,322 shares of the business services provider's stock valued at $1,970,000 after buying an additional 25,512 shares during the period. Sowell Financial Services LLC bought a new stake in shares of Copart in the first quarter valued at $604,000. Finally, Tsai Capital Corp raised its stake in shares of Copart by 13.3% in the fourth quarter. Tsai Capital Corp now owns 61,689 shares of the business services provider's stock valued at $3,540,000 after buying an additional 7,230 shares during the period. Hedge funds and other institutional investors own 85.78% of the company's stock.

Analysts Set New Price Targets

CPRT has been the topic of several research reports. JPMorgan Chase & Co. lowered their target price on Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Argus lowered Copart from a "buy" rating to a "hold" rating in a research note on Friday, March 14th.

Copart Stock Up 0.2%

NASDAQ:CPRT traded up $0.09 during mid-day trading on Friday, hitting $47.97. 14,395,030 shares of the stock traded hands, compared to its average volume of 4,872,114. The business's 50-day moving average price is $56.58 and its 200 day moving average price is $56.95. The company has a market cap of $46.38 billion, a PE ratio of 31.56 and a beta of 1.10. Copart, Inc. has a 12-month low of $47.70 and a 12-month high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.42 EPS for the quarter, meeting 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 during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the business earned $0.39 EPS. The business's revenue for the quarter was up 7.5% on a year-over-year basis. Analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Copart news, Director Steven D. Cohan sold 94,997 shares of the company's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $60.01, for a total value of $5,700,769.97. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 9.68% of the stock is owned by company insiders.

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.