State Street Corp increased its position in Copart, Inc. (NASDAQ:CPRT) by 98.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,371,016 shares of the business services provider’s stock after buying an additional 2,660,809 shares during the quarter. State Street Corp owned 2.33% of Copart worth $170,744,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. Winslow Evans & Crocker Inc. bought a new stake in Copart in the 2nd quarter worth approximately $100,000. Salem Investment Counselors Inc. lifted its position in Copart by 100.0% in the second quarter. Salem Investment Counselors Inc. now owns 4,094 shares of the business services provider’s stock valued at $130,000 after purchasing an additional 2,047 shares during the last quarter. Parallel Advisors LLC lifted its position in Copart by 2.6% in the second quarter. Parallel Advisors LLC now owns 4,451 shares of the business services provider’s stock valued at $140,000 after purchasing an additional 111 shares during the last quarter. Smithfield Trust Co. lifted its position in Copart by 104.8% in the second quarter. Smithfield Trust Co. now owns 5,371 shares of the business services provider’s stock valued at $171,000 after purchasing an additional 2,749 shares during the last quarter. Finally, Huntington National Bank lifted its position in Copart by 136.5% in the second quarter. Huntington National Bank now owns 5,630 shares of the business services provider’s stock valued at $179,000 after purchasing an additional 3,249 shares during the last quarter. Institutional investors own 79.47% of the company’s stock.
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Shares of Copart, Inc. (CPRT) traded down 0.08% on Friday, hitting $35.88. The stock had a trading volume of 2,212,702 shares. The company has a market cap of $8.28 billion, a P/E ratio of 21.61 and a beta of 1.19. The company’s 50 day moving average price is $34.49 and its 200-day moving average price is $31.96. Copart, Inc. has a 12 month low of $25.37 and a 12 month high of $36.65.
Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Tuesday, September 19th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.04. Copart had a return on equity of 31.83% and a net margin of 27.23%. The company had revenue of $378.60 million for the quarter, compared to analyst estimates of $355.42 million. During the same quarter last year, the company posted $0.31 earnings per share. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. On average, analysts expect that Copart, Inc. will post $1.43 earnings per share for the current year.
In other Copart news, Director James E. Meeks sold 160,000 shares of Copart stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $34.33, for a total value of $5,492,800.00. Following the completion of the sale, the director now directly owns 3,500 shares of the company’s stock, valued at approximately $120,155. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Vincent W. Mitz sold 200,000 shares of the business’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $34.32, for a total transaction of $6,864,000.00. Following the sale, the president now directly owns 47,660 shares of the company’s stock, valued at $1,635,691.20. The disclosure for this sale can be found here. 17.00% of the stock is owned by company insiders.
Several equities analysts have recently issued reports on CPRT shares. CJS Securities reissued an “outperform” rating and set a $42.00 target price on shares of Copart in a research note on Thursday, October 5th. Robert W. Baird boosted their target price on Copart from $33.00 to $37.00 and gave the company an “outperform” rating in a research note on Thursday, September 21st. Zacks Investment Research cut Copart from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $33.00 price target on shares of Copart in a research note on Thursday, July 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $37.33.
Copart Company Profile
Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.
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