Vanguard Personalized Indexing Management LLC Acquires 8,002 Shares of Copart, Inc. $CPRT

Key Points

• Vanguard Personalized Indexing Management LLC has increased its stake in Copart, Inc. by 7.2%, acquiring an additional 8,002 shares, raising its total holdings to 119,525 shares valued at approximately $5.87 million.
• Copart reported a earnings per share (EPS) of $0.41 for the quarter, surpassing analyst estimates of $0.37, with revenue reaching $1.13 billion despite slightly missing expectations.
• Research analysts have mixed ratings on Copart, with HSBC Global Res upgrading it to a "strong-buy" while other firms have reduced target prices, with a current consensus target price of $54.50.

Vanguard Personalized Indexing Management LLC grew its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 7.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 119,525 shares of the business services provider's stock after acquiring an additional 8,002 shares during the quarter. Vanguard Personalized Indexing Management LLC's holdings in Copart were worth $5,865,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. GC Wealth Management RIA LLC bought a new stake in shares of Copart in the second quarter valued at approximately $219,000. Sowell Financial Services LLC bought a new position in Copart in the first quarter worth $604,000. China Universal Asset Management Co. Ltd. lifted its position in Copart by 52.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 23,862 shares of the business services provider's stock worth $1,350,000 after purchasing an additional 8,181 shares during the period. Private Trust Co. NA lifted its position in Copart by 16.5% in the first quarter. Private Trust Co. NA now owns 4,142 shares of the business services provider's stock worth $234,000 after purchasing an additional 586 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Copart by 15.9% in the first quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider's stock worth $868,417,000 after purchasing an additional 2,106,656 shares during the period. 85.78% of the stock is owned by institutional investors.

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $44.07 on Tuesday. Copart, Inc. has a twelve month low of $43.71 and a twelve month high of $64.38. The firm has a market cap of $42.65 billion, a PE ratio of 27.54 and a beta of 1.03. The business has a fifty day moving average of $46.77 and a 200-day moving average of $51.15.

Copart (NASDAQ:CPRT - Get Free Report) last announced its earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.04. Copart had a return on equity of 18.17% and a net margin of 33.41%.The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the company posted $0.33 earnings per share. The firm's quarterly revenue was up 2.9% compared to the same quarter last year. On average, analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on CPRT shares. Hsbc Global Res raised Copart from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 4th. Stephens reduced their target price on Copart from $50.00 to $46.00 and set an "equal weight" rating for the company in a research report on Friday, September 5th. HSBC set a $62.00 target price on Copart and gave the stock a "buy" rating in a research report on Thursday, September 4th. Robert W. Baird reduced their target price on Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, July 17th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Copart in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.50.

Insider Buying and Selling at Copart

In related news, Director Thomas N. Tryforos sold 228,840 shares of Copart stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $47.54, for a total value of $10,879,053.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 9.68% of the company's stock.

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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