United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Has $37.31 Million Holdings in Copart, Inc. (NASDAQ:CPRT)

Key Points

• United Super Pty Ltd increased its holdings in Copart, Inc. by 15.6%, acquiring an additional 89,126 shares in the first quarter, bringing its total ownership to 659,281 shares valued at approximately $37.31 million.
• Copart reported earnings of $0.42 per share for the most recent quarter, matching analysts' expectations, with revenues reaching $1.21 billion, a 7.5% increase compared to the same quarter last year.
• CEO Jeffrey Liaw sold 24,088 shares at an average price of $46.43, resulting in a significant decrease of 43.31% in his ownership stake in the company.

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund boosted its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 15.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 659,281 shares of the business services provider's stock after purchasing an additional 89,126 shares during the period. Copart makes up approximately 1.5% of United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund's portfolio, making the stock its 27th biggest holding. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund owned approximately 0.07% of Copart worth $37,309,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Edgewood Management LLC grew its holdings in Copart by 14.1% during the 4th quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider's stock worth $1,346,548,000 after acquiring an additional 2,907,405 shares in the last quarter. Fiera Capital Corp grew its holdings in Copart by 195.6% during the 1st quarter. Fiera Capital Corp now owns 3,992,610 shares of the business services provider's stock worth $225,942,000 after acquiring an additional 2,642,100 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Copart by 3.3% during the 1st quarter. Principal Financial Group Inc. now owns 39,409,377 shares of the business services provider's stock worth $2,230,177,000 after acquiring an additional 1,249,687 shares in the last quarter. GAMMA Investing LLC grew its holdings in Copart by 6,774.3% during the 1st quarter. GAMMA Investing LLC now owns 1,151,720 shares of the business services provider's stock worth $65,176,000 after acquiring an additional 1,134,966 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Copart by 12.3% during the 4th quarter. Northern Trust Corp now owns 8,865,301 shares of the business services provider's stock worth $508,780,000 after acquiring an additional 971,940 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CPRT shares. Stephens assumed coverage on shares of Copart in a report on Tuesday, July 8th. They set an "equal weight" rating and a $50.00 price objective for the company. JPMorgan Chase & Co. decreased their price target on shares of Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Finally, Robert W. Baird decreased their price target on shares of Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday, July 17th.

Copart Stock Performance

Shares of NASDAQ:CPRT traded up $0.23 during trading on Monday, reaching $45.74. The company had a trading volume of 5,246,862 shares, compared to its average volume of 7,270,963. The firm's fifty day moving average is $48.47 and its 200 day moving average is $54.57. The firm has a market capitalization of $44.23 billion, a PE ratio of 29.94 and a beta of 1.04. Copart, Inc. has a twelve month low of $45.05 and a twelve month high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last released its earnings results on Thursday, May 22nd. The business services provider reported $0.42 EPS 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 analyst estimates of $1.23 billion. During the same period in the prior year, the business earned $0.39 earnings per share. The business's quarterly revenue was up 7.5% on a year-over-year basis. Equities analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Activity at Copart

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of Copart stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the completion of the sale, the chief executive officer owned 31,527 shares of the company's stock, valued at $1,463,798.61. This trade represents a 43.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company 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.