VCI Wealth Management LLC Purchases Shares of 16,912 Copart, Inc. (NASDAQ:CPRT)

VCI Wealth Management LLC purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 16,912 shares of the business services provider's stock, valued at approximately $957,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Copart during the fourth quarter worth $682,089,000. Edgewood Management LLC grew its holdings in shares of Copart by 14.1% in the fourth 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 in the last quarter. Wellington Management Group LLP raised its holdings in shares of Copart by 14.4% in the 4th quarter. Wellington Management Group LLP now owns 14,157,306 shares of the business services provider's stock valued at $812,488,000 after purchasing an additional 1,785,741 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Copart by 58.8% during the 4th quarter. Franklin Resources Inc. now owns 4,296,060 shares of the business services provider's stock worth $246,551,000 after buying an additional 1,590,706 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Copart by 3.3% in the 1st quarter. Principal Financial Group Inc. now owns 39,409,377 shares of the business services provider's stock valued at $2,230,177,000 after purchasing an additional 1,249,687 shares during the last quarter. Institutional investors own 85.78% of the company's stock.

Copart Trading Down 0.0%

CPRT traded down $0.02 on Tuesday, reaching $46.01. The stock had a trading volume of 2,732,065 shares, compared to its average volume of 5,029,744. Copart, Inc. has a 12-month low of $45.52 and a 12-month high of $64.38. The business's 50-day moving average price is $51.52 and its two-hundred day moving average price is $55.29. The company has a market cap of $44.49 billion, a P/E ratio of 30.27 and a beta of 1.07.

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, hitting the consensus estimate of $0.42. Copart had a net margin of 32.21% and a return on equity of 18.20%. The company had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter last year, the business earned $0.39 EPS. The business's revenue was up 7.5% on a year-over-year basis. As a group, analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Jeffrey Liaw sold 24,088 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total value of $1,118,405.84. Following the transaction, the chief executive officer owned 31,527 shares in the company, valued at approximately $1,463,798.61. This represents a 43.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 9.68% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CPRT shares. Stephens started coverage on Copart in a report on Tuesday, July 8th. They set an "equal weight" rating and a $50.00 price target for the company. Robert W. Baird reduced their price target on Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, July 17th. Finally, JPMorgan Chase & Co. dropped their price target on Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research note 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.

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