Wealth Enhancement Advisory Services LLC Has $5.47 Million Holdings in Copart, Inc. (NASDAQ:CPRT)

Wealth Enhancement Advisory Services LLC raised its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 10.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 96,595 shares of the business services provider's stock after buying an additional 8,982 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Copart were worth $5,466,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Copart in the 4th quarter worth approximately $682,089,000. Madison Investment Advisors LLC acquired a new position in shares of Copart in the 4th quarter worth approximately $253,686,000. Edgewood Management LLC boosted its holdings in shares of Copart by 14.1% in the 4th quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider's stock worth $1,346,548,000 after acquiring an additional 2,907,405 shares in the last quarter. Wellington Management Group LLP boosted 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 worth $812,488,000 after acquiring an additional 1,785,741 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Copart by 58.8% in the 4th quarter. Franklin Resources Inc. now owns 4,296,060 shares of the business services provider's stock worth $246,551,000 after acquiring an additional 1,590,706 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company's stock.

Wall Street Analyst Weigh In

CPRT has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Argus downgraded Copart from a "buy" rating to a "hold" rating in a report on Friday, March 14th.

Insider Buying and Selling

In related news, Director Steven D. Cohan sold 94,997 shares of the business's stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.68% of the stock is currently owned by corporate insiders.

Copart Price Performance

CPRT stock opened at $48.14 on Thursday. The company has a 50 day moving average price of $55.88 and a 200 day moving average price of $56.70. Copart, Inc. has a fifty-two week low of $47.33 and a fifty-two week high of $64.38. The stock has a market capitalization of $46.55 billion, a PE ratio of 31.67 and a beta of 1.10.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 earnings per share 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 firm had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter in the previous year, the company posted $0.39 EPS. Copart's revenue was up 7.5% on a year-over-year basis. As a group, equities analysts expect that Copart, Inc. will post 1.57 earnings per share 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.

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