American International Group Inc. Acquires 4,820 Shares of Copart, Inc. (NASDAQ:CPRT)

American International Group Inc. boosted its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 348,695 shares of the business services provider’s stock after purchasing an additional 4,820 shares during the quarter. American International Group Inc.’s holdings in Copart were worth $17,086,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Copart by 100.6% in the third quarter. Vanguard Group Inc. now owns 97,512,662 shares of the business services provider’s stock worth $4,201,821,000 after acquiring an additional 48,891,984 shares during the last quarter. Capital World Investors raised its position in shares of Copart by 1.0% during the fourth quarter. Capital World Investors now owns 21,419,398 shares of the business services provider’s stock valued at $1,049,551,000 after buying an additional 207,349 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Copart by 84.4% in the third quarter. Wellington Management Group LLP now owns 17,929,180 shares of the business services provider’s stock valued at $772,568,000 after buying an additional 8,205,757 shares during the period. JPMorgan Chase & Co. grew its position in Copart by 79.1% during the third quarter. JPMorgan Chase & Co. now owns 17,359,152 shares of the business services provider’s stock worth $748,006,000 after buying an additional 7,666,881 shares in the last quarter. Finally, FMR LLC increased its stake in Copart by 93.6% during the third quarter. FMR LLC now owns 14,733,860 shares of the business services provider’s stock valued at $634,882,000 after acquiring an additional 7,122,991 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. StockNews.com cut Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. lifted their price objective on Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $51.00.

Copart Trading Up 0.3 %

Shares of NASDAQ:CPRT traded up $0.15 during trading on Friday, hitting $53.21. 3,592,571 shares of the company’s stock were exchanged, compared to its average volume of 3,797,142. The firm has a market cap of $51.20 billion, a P/E ratio of 37.47 and a beta of 1.26. The firm has a 50-day moving average price of $54.34 and a two-hundred day moving average price of $52.21. Copart, Inc. has a 1-year low of $42.41 and a 1-year high of $58.58.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, May 16th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.11 billion. Copart had a return on equity of 20.80% and a net margin of 33.33%. The firm’s revenue was up 10.3% on a year-over-year basis. During the same period last year, the company earned $0.36 EPS. As a group, research analysts predict that Copart, Inc. will post 1.43 EPS for the current year.

Insider Activity

In other Copart news, Chairman A Jayson Adair sold 600,000 shares of the 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 sale, the chairman now directly owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 10.23% of the stock is currently owned by company insiders.

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.