QRG Capital Management Inc. Grows Stake in Copart, Inc. (NASDAQ:CPRT)

QRG Capital Management Inc. lifted its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 7.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,028 shares of the business services provider's stock after buying an additional 7,928 shares during the quarter. QRG Capital Management Inc.'s holdings in Copart were worth $6,792,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CPRT. Western Pacific Wealth Management LP grew its holdings in Copart by 6.5% in the 1st quarter. Western Pacific Wealth Management LP now owns 2,838 shares of the business services provider's stock worth $161,000 after acquiring an additional 173 shares during the last quarter. HighPoint Advisor Group LLC boosted its holdings in shares of Copart by 1.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 9,747 shares of the business services provider's stock worth $577,000 after purchasing an additional 175 shares during the period. Sandy Spring Bank grew its stake in shares of Copart by 59.5% in the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock worth $27,000 after purchasing an additional 176 shares during the last quarter. Lindbrook Capital LLC increased its holdings in Copart by 3.2% during the 4th quarter. Lindbrook Capital LLC now owns 6,007 shares of the business services provider's stock valued at $345,000 after purchasing an additional 184 shares during the period. Finally, Nixon Peabody Trust Co. raised its position in Copart by 5.0% during the 1st quarter. Nixon Peabody Trust Co. now owns 4,108 shares of the business services provider's stock valued at $232,000 after purchasing an additional 195 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Copart Price Performance

CPRT traded down $0.12 on Thursday, hitting $47.88. The company had a trading volume of 6,819,599 shares, compared to its average volume of 4,835,124. The stock has a fifty day simple moving average of $56.82 and a 200-day simple moving average of $57.09. The firm has a market capitalization of $46.30 billion, a P/E ratio of 31.50 and a beta of 1.10. Copart, Inc. has a 52-week low of $47.70 and a 52-week 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, hitting the consensus estimate of $0.42. Copart had a return on equity of 18.20% and a net margin of 32.21%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the prior year, the company earned $0.39 EPS. The business's revenue was up 7.5% compared to the same quarter last year. Equities research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Copart news, Director Steven D. Cohan sold 94,997 shares of the company's 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 9.68% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Argus lowered 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 shares of Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd.

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.