Meeder Asset Management Inc. Acquires 20,837 Shares of Copart, Inc. (NASDAQ:CPRT)

Meeder Asset Management Inc. raised its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 4,252.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,327 shares of the business services provider's stock after purchasing an additional 20,837 shares during the quarter. Meeder Asset Management Inc.'s holdings in Copart were worth $1,207,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Cloud Capital Management LLC acquired a new stake in Copart during the 1st quarter worth approximately $26,000. Sunbelt Securities Inc. acquired a new position in Copart in the 4th quarter worth about $31,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Copart during the 4th quarter worth approximately $45,000. Cornerstone Planning Group LLC grew its position in shares of Copart by 51.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 829 shares of the business services provider's stock valued at $51,000 after buying an additional 281 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in shares of Copart by 1,567.9% in the 1st quarter. Versant Capital Management Inc now owns 884 shares of the business services provider's stock valued at $50,000 after buying an additional 831 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Copart Price Performance

CPRT stock traded up $0.18 during mid-day trading on Friday, hitting $45.51. 5,688,018 shares of the stock were exchanged, compared to its average volume of 5,705,008. The business has a fifty day moving average price of $48.63 and a 200 day moving average price of $54.67. Copart, Inc. has a 12 month low of $45.05 and a 12 month high of $64.38. The stock has a market capitalization of $44.01 billion, a price-to-earnings ratio of 29.94 and a beta of 1.07.

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Robert W. Baird dropped their price target on Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research note on Thursday, July 17th. JPMorgan Chase & Co. reduced 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. Finally, Stephens began coverage on Copart in a report on Tuesday, July 8th. They issued an "equal weight" rating and a $50.00 price target for the company.

Insider Buying and Selling at Copart

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the transaction, the chief executive officer owned 31,527 shares in the company, valued at approximately $1,463,798.61. This represents a 43.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 9.68% of the company's stock.

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.