Copart, Inc. (NASDAQ:CPRT) Position Increased by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 53.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 854,336 shares of the business services provider's stock after purchasing an additional 297,210 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.09% of Copart worth $48,347,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Copart by 1.0% during 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 acquiring an additional 976,909 shares during the period. Edgewood Management LLC boosted its holdings 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 worth $1,346,548,000 after buying an additional 2,907,405 shares during the last quarter. Capital World Investors grew its stake 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 worth $1,225,502,000 after acquiring an additional 169,354 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Copart by 23.3% in the fourth quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider's stock worth $1,115,664,000 after acquiring an additional 3,667,534 shares during the period. Finally, Geode Capital Management LLC increased its holdings in 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 worth $1,097,153,000 after acquiring an additional 408,677 shares during the period. Institutional investors own 85.78% of the company's stock.

Copart Stock Performance

NASDAQ CPRT traded up $0.30 during trading hours on Wednesday, reaching $50.58. The stock had a trading volume of 1,803,988 shares, compared to its average volume of 4,701,190. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The stock has a fifty day moving average of $57.87 and a 200 day moving average of $57.76. The stock has a market cap of $48.91 billion, a P/E ratio of 33.95 and a beta of 1.10.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. Copart had a return on equity of 19.31% and a net margin of 32.27%. The company had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.23 billion. During the same period in the previous year, the firm posted $0.39 EPS. Copart's revenue was up 7.5% compared to the same quarter last year. On average, equities research analysts forecast that Copart, Inc. will post 1.57 EPS for the current year.

Insider Activity

In other Copart news, Director James E. Meeks sold 100,000 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total transaction of $5,400,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Steven D. Cohan sold 5,003 shares of the stock in a transaction dated Friday, April 11th. The stock was 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. In the last 90 days, insiders have sold 200,000 shares of company stock valued at $11,401,000. 9.68% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CPRT has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their price target 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 report on Friday, March 14th.

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.