Park Place Capital Corp Raises Stock Position in Copart, Inc. (NASDAQ:CPRT)

Park Place Capital Corp increased its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 48.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,756 shares of the business services provider's stock after acquiring an additional 12,682 shares during the period. Park Place Capital Corp's holdings in Copart were worth $2,193,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CPRT. CNB Bank grew its holdings in shares of Copart by 11.1% during the first quarter. CNB Bank now owns 11,563 shares of the business services provider's stock worth $654,000 after buying an additional 1,156 shares in the last quarter. First Merchants Corp grew its position in shares of Copart by 3.3% in the first quarter. First Merchants Corp now owns 127,116 shares of the business services provider's stock valued at $7,193,000 after purchasing an additional 4,118 shares during the period. Perpetual Ltd lifted its position in Copart by 12.3% during the first quarter. Perpetual Ltd now owns 203,063 shares of the business services provider's stock worth $11,491,000 after buying an additional 22,311 shares during the period. PDS Planning Inc boosted its stake in Copart by 9.2% in the 1st quarter. PDS Planning Inc now owns 5,083 shares of the business services provider's stock worth $288,000 after buying an additional 430 shares during the last quarter. Finally, Western Wealth Management LLC grew its holdings in Copart by 4.0% in the 1st quarter. Western Wealth Management LLC now owns 4,985 shares of the business services provider's stock valued at $282,000 after buying an additional 192 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Copart Stock Performance

Copart stock opened at $48.24 on Friday. The firm has a market capitalization of $46.65 billion, a PE ratio of 31.74 and a beta of 1.10. Copart, Inc. has a one year low of $47.33 and a one year high of $64.38. The stock's 50 day moving average price is $55.65 and its 200 day moving average price is $56.61.

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 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 business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the prior year, the firm earned $0.39 earnings per share. The business's quarterly revenue was up 7.5% compared to the same quarter last year. On average, analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Steven D. Cohan sold 5,003 shares of the company's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $60.01, for a total value of $300,230.03. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 9.68% of the company's stock.

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.

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