MBE Wealth Management LLC Acquires New Holdings in Copart, Inc. (NASDAQ:CPRT)

MBE Wealth Management LLC bought a new stake in Copart, Inc. (NASDAQ:CPRT - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,306 shares of the business services provider's stock, valued at approximately $357,000.

A number of other institutional investors have also added to or reduced their stakes in CPRT. Norges Bank bought a new stake in Copart in the fourth quarter valued at about $682,089,000. Madison Investment Advisors LLC acquired a new position in shares of Copart in the 4th quarter worth approximately $253,686,000. Bank of New York Mellon Corp raised its holdings in shares of Copart by 23.3% in the 4th 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 buying an additional 3,667,534 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 worth $1,346,548,000 after buying an additional 2,907,405 shares during the period. Finally, Wellington Management Group LLP lifted its position 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 buying an additional 1,785,741 shares during the period. 85.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Activity at Copart

In related 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 9.68% of the stock is owned by company insiders.

Copart Stock Down 0.5%

CPRT traded down $0.25 during trading on Monday, hitting $47.72. The company's stock had a trading volume of 7,424,358 shares, compared to its average volume of 4,882,315. The firm's 50 day moving average price is $56.34 and its two-hundred day moving average price is $56.82. The stock has a market capitalization of $46.14 billion, a price-to-earnings ratio of 31.39 and a beta of 1.10. Copart, Inc. has a 12 month low of $47.34 and a 12 month high of $64.38.

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 for the quarter, meeting the consensus estimate 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 analysts' expectations of $1.23 billion. During the same quarter last year, the company posted $0.39 EPS. The company's quarterly revenue was up 7.5% compared to the same quarter last year. On average, sell-side analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

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.