Victory Capital Management Inc. Decreases Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Victory Capital Management Inc. lessened its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 1.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 769,468 shares of the business services provider's stock after selling 15,176 shares during the quarter. Victory Capital Management Inc. owned 0.08% of Copart worth $43,544,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC increased its position 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 worth $816,000 after purchasing an additional 6,817 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Copart in the fourth quarter valued at $234,000. Sandy Spring Bank boosted its holdings in Copart by 59.5% in the fourth 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 last quarter. Teacher Retirement System of Texas boosted its holdings in Copart by 10.7% in the fourth 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 last quarter. Finally, Mizuho Securities USA LLC boosted its holdings in Copart by 46.3% in the fourth 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 last quarter. Institutional investors own 85.78% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, CEO Jeffrey Liaw sold 24,088 shares of the firm's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total value of $1,118,405.84. Following the transaction, the chief executive officer directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 9.68% of the company's stock.

Copart Price Performance

NASDAQ CPRT traded up $0.39 during trading hours on Tuesday, reaching $46.42. The company's stock had a trading volume of 4,058,760 shares, compared to its average volume of 5,034,637. The firm has a market capitalization of $44.88 billion, a price-to-earnings ratio of 30.54 and a beta of 1.07. Copart, Inc. has a 1-year low of $45.52 and a 1-year high of $64.38. The company's 50-day moving average is $51.52 and its two-hundred day moving average is $55.29.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, hitting analysts' consensus estimates of $0.42. The company had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.23 billion. Copart had a return on equity of 18.20% and a net margin of 32.21%. Copart's quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.39 EPS. Equities analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal 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.