Victory Capital Management Inc. Sells 15,176 Shares of Copart, Inc. (NASDAQ:CPRT)

Victory Capital Management Inc. lessened its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 1.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 769,468 shares of the business services provider's stock after selling 15,176 shares during the quarter. Victory Capital Management Inc. owned approximately 0.08% of Copart worth $43,544,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CPRT. Brighton Jones LLC raised its holdings in shares of Copart by 92.1% during the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider's stock valued at $816,000 after acquiring an additional 6,817 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Copart in the 4th quarter valued at approximately $234,000. Sandy Spring Bank lifted its stake in shares of Copart by 59.5% in the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock valued at $27,000 after purchasing an additional 176 shares during the period. Teacher Retirement System of Texas lifted its stake in shares of Copart by 10.7% in the 4th quarter. Teacher Retirement System of Texas now owns 51,138 shares of the business services provider's stock valued at $2,935,000 after purchasing an additional 4,949 shares during the period. Finally, Mizuho Securities USA LLC lifted its stake in shares of Copart by 46.3% in the 4th quarter. Mizuho Securities USA LLC now owns 83,089 shares of the business services provider's stock valued at $4,768,000 after purchasing an additional 26,305 shares during the period. Institutional investors own 85.78% of the company's stock.

Wall Street Analyst Weigh In

CPRT has been the subject of a number of research analyst reports. Stephens initiated coverage on Copart in a research note on Tuesday, July 8th. They issued an "equal weight" rating and a $50.00 target price for the company. JPMorgan Chase & Co. lowered their target price on Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Finally, Robert W. Baird lowered their target price on Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research note on Thursday, July 17th.

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 stock was sold at an average price of $46.43, for a total value 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 approximately $1,463,798.61. This trade represents a 43.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.68% of the company's stock.

Copart Stock Up 0.9%

Shares of NASDAQ CPRT traded up $0.44 during trading on Wednesday, reaching $46.83. The company had a trading volume of 6,779,320 shares, compared to its average volume of 5,063,144. Copart, Inc. has a 12-month low of $45.52 and a 12-month high of $64.38. The stock has a market cap of $45.28 billion, a PE ratio of 30.81 and a beta of 1.07. The business's 50-day moving average is $50.88 and its 200 day moving average is $55.15.

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 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 analysts' expectations of $1.23 billion. During the same period in the prior year, the firm posted $0.39 earnings per share. The company's quarterly revenue was up 7.5% on a year-over-year basis. On average, analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

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.