Copart, Inc. (NASDAQ:CPRT) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 2.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,114,128 shares of the business services provider's stock after purchasing an additional 46,060 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.22% of Copart worth $119,639,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Sandy Spring Bank increased 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 acquiring an additional 176 shares during the period. Sunbelt Securities Inc. purchased a new stake in Copart in the fourth quarter valued at $31,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Copart during the 4th quarter worth about $45,000. Versant Capital Management Inc raised its stake in shares of Copart by 1,567.9% during the 1st quarter. Versant Capital Management Inc now owns 884 shares of the business services provider's stock valued at $50,000 after buying an additional 831 shares during the last quarter. Finally, Curio Wealth LLC acquired a new position in shares of Copart in the 4th quarter valued at about $52,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Trading Up 1.8%

NASDAQ:CPRT traded up $0.89 during trading hours on Monday, hitting $49.07. 7,673,204 shares of the stock were exchanged, compared to its average volume of 4,855,807. Copart, Inc. has a 52-week low of $47.33 and a 52-week high of $64.38. The firm's fifty day moving average price is $55.42 and its 200 day moving average price is $56.43. The company has a market cap of $47.45 billion, a P/E ratio of 32.28 and a beta of 1.10.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings results 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. Copart had a return on equity of 18.20% and a net margin of 32.21%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the company posted $0.39 earnings per share. The business's revenue was up 7.5% on a year-over-year basis. Equities analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Activity

In other news, Director Steven D. Cohan sold 94,997 shares of the firm'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 transaction was disclosed in a filing with the SEC, which is available through this link. 9.68% of the stock is owned by insiders.

Analyst Ratings Changes

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

Copart 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.