Copart, Inc. (NASDAQ:CPRT) Shares Acquired by IFM Investors Pty Ltd

IFM Investors Pty Ltd increased its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 11.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 169,429 shares of the business services provider's stock after acquiring an additional 16,947 shares during the quarter. IFM Investors Pty Ltd's holdings in Copart were worth $8,878,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CPRT. Norges Bank purchased a new stake in shares of Copart in the fourth quarter valued at $682,089,000. Madison Investment Advisors LLC purchased a new stake in Copart in the 4th quarter valued at about $253,686,000. Edgewood Management LLC increased its stake 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 acquiring an additional 2,907,405 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Copart by 14.4% during the 4th quarter. Wellington Management Group LLP now owns 14,157,306 shares of the business services provider's stock worth $812,488,000 after acquiring an additional 1,785,741 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of Copart by 58.8% during the 4th quarter. Franklin Resources Inc. now owns 4,296,060 shares of the business services provider's stock worth $246,551,000 after acquiring an additional 1,590,706 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Stock Down 1.0%

Shares of NASDAQ CPRT traded down $0.49 during midday trading on Monday, hitting $48.83. The stock had a trading volume of 4,230,236 shares, compared to its average volume of 4,873,699. Copart, Inc. has a 1-year low of $47.33 and a 1-year high of $64.38. The company has a market capitalization of $47.22 billion, a price-to-earnings ratio of 32.13 and a beta of 1.07. The company has a fifty day moving average price of $54.28 and a 200 day moving average price of $56.06.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.23 billion. Copart had a net margin of 32.21% and a return on equity of 18.20%. Copart's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 earnings per share. On average, research analysts forecast that Copart, Inc. will post 1.57 EPS for the current year.

Insider Activity at Copart

In related news, Director Steven D. Cohan sold 94,997 shares of Copart stock in a transaction on Monday, April 14th. The shares were sold at an average price of $60.01, for a total transaction of $5,700,769.97. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.68% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on CPRT. Argus lowered shares of Copart from a "buy" rating to a "hold" rating in a research report on Friday, March 14th. JPMorgan Chase & Co. dropped their price objective on Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a report on Friday, May 23rd.

Copart 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.