Fragasso Financial Advisors Inc Grows Stake in Copart, Inc. (NASDAQ:CPRT)

Fragasso Financial Advisors Inc increased its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 777.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,379 shares of the business services provider's stock after acquiring an additional 31,346 shares during the period. Fragasso Financial Advisors Inc's holdings in Copart were worth $2,002,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Czech National Bank grew its position in Copart by 5.9% in the first quarter. Czech National Bank now owns 201,389 shares of the business services provider's stock worth $11,397,000 after acquiring an additional 11,309 shares in the last quarter. Rhumbline Advisers lifted its stake in Copart by 3.5% in the first quarter. Rhumbline Advisers now owns 1,665,400 shares of the business services provider's stock worth $94,245,000 after purchasing an additional 56,993 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in Copart by 12.0% in the first quarter. Fifth Third Wealth Advisors LLC now owns 10,332 shares of the business services provider's stock worth $585,000 after purchasing an additional 1,106 shares during the last quarter. GAMMA Investing LLC lifted its stake in Copart by 6,774.3% in the first quarter. GAMMA Investing LLC now owns 1,151,720 shares of the business services provider's stock worth $65,176,000 after purchasing an additional 1,134,966 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in Copart by 1,567.9% in the first quarter. Versant Capital Management Inc now owns 884 shares of the business services provider's stock worth $50,000 after purchasing an additional 831 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company's stock.

Copart Trading Down 0.2%

Shares of Copart stock traded down $0.09 on Thursday, hitting $50.29. 2,190,720 shares of the company traded hands, compared to its average volume of 4,650,484. The stock's 50 day moving average price is $58.41 and its 200-day moving average price is $57.96. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38. The company has a market cap of $48.58 billion, a PE ratio of 33.75 and a beta of 1.10.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly 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 net margin of 32.27% and a return on equity of 19.31%. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the previous year, the firm posted $0.39 earnings per share. The company's revenue was up 7.5% on a year-over-year basis. As a group, research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Activity at Copart

In related news, Director James E. Meeks sold 100,000 shares of Copart stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total transaction of $5,400,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven D. Cohan sold 5,003 shares of Copart stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $60.01, for a total transaction of $300,230.03. The disclosure for this sale can be found here. Insiders have sold a total of 200,000 shares of company stock valued at $11,401,000 over the last ninety days. 9.68% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CPRT. Argus downgraded shares of Copart from a "buy" rating to a "hold" rating in a research note on Friday, March 14th. JPMorgan Chase & Co. decreased their price target on shares of Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd.

Copart Company 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.