WASHINGTON TRUST Co Buys 116,614 Shares of Copart, Inc. (NASDAQ:CPRT)

WASHINGTON TRUST Co raised its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 193.9% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 176,742 shares of the business services provider's stock after purchasing an additional 116,614 shares during the period. WASHINGTON TRUST Co's holdings in Copart were worth $10,002,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Copart by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 102,129,032 shares of the business services provider's stock valued at $5,861,185,000 after acquiring an additional 976,909 shares during the period. Edgewood Management LLC boosted its position 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 worth $1,346,548,000 after purchasing an additional 2,907,405 shares during the period. Capital World Investors increased its stake in shares of Copart by 0.8% in the fourth quarter. Capital World Investors now owns 21,353,932 shares of the business services provider's stock worth $1,225,502,000 after purchasing an additional 169,354 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Copart by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 19,172,603 shares of the business services provider's stock valued at $1,097,153,000 after purchasing an additional 408,677 shares during the period. Finally, FMR LLC lifted its stake in shares of Copart by 2.7% during the 4th quarter. FMR LLC now owns 14,504,704 shares of the business services provider's stock valued at $832,425,000 after buying an additional 380,691 shares in the last quarter. Institutional investors own 85.78% of the company's stock.

Analyst Ratings Changes

CPRT has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price target on Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Argus lowered Copart from a "buy" rating to a "hold" rating in a research note on Friday, March 14th.

Insider Transactions at Copart

In other Copart news, Director Steven D. Cohan sold 94,997 shares of Copart stock in a transaction on Monday, April 14th. The shares were sold at an average price of $60.01, for a total value of $5,700,769.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.68% of the stock is currently owned by insiders.

Copart Trading Up 0.4%

CPRT traded up $0.21 during trading on Thursday, hitting $49.29. 3,329,409 shares of the company traded hands, compared to its average volume of 4,863,479. The company has a market cap of $47.66 billion, a PE ratio of 32.42 and a beta of 1.07. The stock's 50-day simple moving average is $54.77 and its two-hundred day simple moving average is $56.25. Copart, Inc. has a 1 year low of $47.33 and a 1 year high of $64.38.

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

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.