Perpetual Ltd Acquires 22,311 Shares of Copart, Inc. (NASDAQ:CPRT)

Perpetual Ltd lifted its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 12.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 203,063 shares of the business services provider's stock after buying an additional 22,311 shares during the period. Perpetual Ltd's holdings in Copart were worth $11,491,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Copart by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 102,129,032 shares of the business services provider's stock worth $5,861,185,000 after acquiring an additional 976,909 shares in the last quarter. Edgewood Management LLC raised its holdings in shares of Copart by 14.1% in the 4th quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider's stock valued at $1,346,548,000 after purchasing an additional 2,907,405 shares during the period. Capital World Investors raised its holdings in shares of Copart by 0.8% in the 4th quarter. Capital World Investors now owns 21,353,932 shares of the business services provider's stock valued at $1,225,502,000 after purchasing an additional 169,354 shares during the period. Geode Capital Management LLC lifted its stake in Copart by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 19,172,603 shares of the business services provider's stock valued at $1,097,153,000 after purchasing an additional 408,677 shares during the last quarter. Finally, FMR LLC increased its position in Copart by 2.7% during the fourth quarter. FMR LLC now owns 14,504,704 shares of the business services provider's stock worth $832,425,000 after buying an additional 380,691 shares during the last quarter. Institutional investors own 85.78% of the company's stock.

Copart Stock Performance

Shares of CPRT stock opened at $48.18 on Friday. The company has a market capitalization of $46.59 billion, a price-to-earnings ratio of 31.70 and a beta of 1.10. Copart, Inc. has a 52 week low of $47.33 and a 52 week high of $64.38. The company has a 50-day simple moving average of $55.42 and a 200 day simple moving average of $56.52.

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

Wall Street Analysts Forecast Growth

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

Insider Activity at Copart

In other Copart news, Director Steven D. Cohan sold 94,997 shares of the stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $60.01, for a total transaction of $5,700,769.97. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.

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