Penserra Capital Management LLC Trims Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Penserra Capital Management LLC decreased its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 9.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,610 shares of the business services provider's stock after selling 7,941 shares during the quarter. Penserra Capital Management LLC's holdings in Copart were worth $4,503,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Crew Capital Management Ltd. lifted its position in Copart by 3.9% in the 1st quarter. Crew Capital Management Ltd. now owns 14,994 shares of the business services provider's stock worth $849,000 after buying an additional 569 shares during the last quarter. Cloud Capital Management LLC bought a new stake in Copart in the first quarter valued at approximately $26,000. Wayfinding Financial LLC bought a new stake in Copart in the first quarter valued at approximately $65,000. IFM Investors Pty Ltd lifted its position in Copart by 11.1% in the first quarter. IFM Investors Pty Ltd now owns 169,429 shares of the business services provider's stock valued at $8,878,000 after purchasing an additional 16,947 shares during the last quarter. Finally, GF Fund Management CO. LTD. lifted its position in Copart by 1.9% in the first quarter. GF Fund Management CO. LTD. now owns 186,003 shares of the business services provider's stock valued at $10,526,000 after purchasing an additional 3,393 shares during the last quarter. Institutional investors own 85.78% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Argus downgraded Copart from a "buy" rating to a "hold" rating in a research report on Friday, March 14th. JPMorgan Chase & Co. lowered their price objective on Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Finally, Stephens assumed coverage on Copart in a research report on Tuesday. They issued an "equal weight" rating and a $50.00 price objective for the company.

Insider Activity at Copart

In related news, Director Steven D. Cohan sold 94,997 shares of the company's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $60.01, for a total value of $5,700,769.97. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 9.68% of the stock is currently owned by corporate insiders.

Copart Stock Performance

Shares of Copart stock traded down $0.16 during midday trading on Tuesday, reaching $48.67. 895,358 shares of the company's stock traded hands, compared to its average volume of 4,858,328. The company has a market cap of $47.06 billion, a PE ratio of 31.98 and a beta of 1.07. The stock has a 50 day moving average of $54.06 and a 200-day moving average of $55.99. Copart, Inc. has a 12 month low of $47.33 and a 12 month 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 EPS for the quarter, meeting analysts' consensus estimates of $0.42. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.23 billion. Copart had a return on equity of 18.20% and a net margin of 32.21%. The firm's revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 earnings per share. On average, equities analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

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.