V Square Quantitative Management LLC Buys 3,565 Shares of Copart, Inc. (NASDAQ:CPRT)

V Square Quantitative Management LLC increased its stake in Copart, Inc. (NASDAQ:CPRT) by 77.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,193 shares of the business services provider’s stock after buying an additional 3,565 shares during the quarter. V Square Quantitative Management LLC’s holdings in Copart were worth $475,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CPRT. Vanguard Group Inc. raised its stake in Copart by 100.6% in the third quarter. Vanguard Group Inc. now owns 97,512,662 shares of the business services provider’s stock valued at $4,201,821,000 after buying an additional 48,891,984 shares during the period. Norges Bank bought a new stake in Copart in the 4th quarter valued at $463,262,000. Wellington Management Group LLP raised its stake in Copart by 84.4% in the 3rd quarter. Wellington Management Group LLP now owns 17,929,180 shares of the business services provider’s stock valued at $772,568,000 after acquiring an additional 8,205,757 shares during the period. JPMorgan Chase & Co. lifted its holdings in Copart by 79.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,359,152 shares of the business services provider’s stock valued at $748,006,000 after purchasing an additional 7,666,881 shares during the last quarter. Finally, FMR LLC boosted its position in Copart by 93.6% during the third quarter. FMR LLC now owns 14,733,860 shares of the business services provider’s stock worth $634,882,000 after purchasing an additional 7,122,991 shares during the period. 85.78% of the stock is owned by institutional investors.

Insider Activity at Copart

In other news, Chairman A Jayson Adair sold 600,000 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the sale, the chairman now directly owns 19,687,980 shares of the company’s stock, valued at approximately $1,137,374,604.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Copart news, Director Matt Blunt sold 100,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $51.06, for a total value of $5,106,000.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman A Jayson Adair sold 600,000 shares of Copart stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value of $34,662,000.00. Following the completion of the transaction, the chairman now owns 19,687,980 shares in the company, valued at approximately $1,137,374,604.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 985,000 shares of company stock worth $55,519,950. Company insiders own 10.23% of the company’s stock.

Copart Stock Down 1.8 %

Shares of Copart stock traded down $0.98 during trading on Wednesday, reaching $53.95. The company’s stock had a trading volume of 3,590,777 shares, compared to its average volume of 4,463,214. Copart, Inc. has a 52 week low of $42.41 and a 52 week high of $58.58. The firm has a market cap of $51.87 billion, a PE ratio of 37.99 and a beta of 1.22. The business’s 50-day moving average price is $55.60 and its 200-day moving average price is $51.73.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, May 16th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Copart had a net margin of 33.33% and a return on equity of 20.80%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the firm posted $0.36 EPS. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. Equities analysts predict that Copart, Inc. will post 1.44 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CPRT. JPMorgan Chase & Co. raised their target price on shares of Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. StockNews.com downgraded shares of Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $51.00.

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.