Copart, Inc. (NASDAQ:CPRT) Shares Purchased by OLD National Bancorp IN

OLD National Bancorp IN lifted its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 152.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 700,592 shares of the business services provider's stock after buying an additional 422,552 shares during the period. Copart comprises 1.0% of OLD National Bancorp IN's holdings, making the stock its 16th largest holding. OLD National Bancorp IN owned approximately 0.07% of Copart worth $39,646,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Norges Bank purchased a new stake in Copart in the 4th quarter valued at about $682,089,000. Madison Investment Advisors LLC purchased a new stake in shares of Copart in the fourth quarter valued at approximately $253,686,000. Bank of New York Mellon Corp grew its stake in 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 purchasing an additional 3,667,534 shares in the last quarter. Edgewood Management LLC grew its stake in Copart by 14.1% in the fourth quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider's stock worth $1,346,548,000 after purchasing an additional 2,907,405 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in 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 purchasing an additional 1,785,741 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CPRT has been the subject of several research reports. JPMorgan Chase & Co. lowered their target price on Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Argus lowered shares of Copart from a "buy" rating to a "hold" rating in a research note on Friday, March 14th.

Copart Stock Up 0.0%

Shares of NASDAQ CPRT traded up $0.02 during midday trading on Monday, reaching $50.15. 8,651,765 shares of the company's stock traded hands, compared to its average volume of 4,691,476. The company has a market cap of $48.49 billion, a price-to-earnings ratio of 33.66 and a beta of 1.10. The stock's 50 day simple moving average is $58.14 and its 200-day simple moving average is $57.90. Copart, Inc. has a one year low of $48.05 and a one year high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last announced its earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The business had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.23 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. The business's revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 EPS. Equities analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director James E. Meeks sold 100,000 shares of the company's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total value of $5,400,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Steven D. Cohan sold 94,997 shares of Copart stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $60.01, for a total value of $5,700,769.97. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 200,000 shares of company stock valued at $11,401,000. 9.68% of the stock is currently owned by corporate insiders.

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.