Copart, Inc. (NASDAQ:CPRT) Shares Acquired by Marshall Financial Group LLC

Marshall Financial Group LLC grew its holdings in Copart, Inc. (NASDAQ:CPRT) by 11.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 28,847 shares of the business services provider’s stock after acquiring an additional 2,935 shares during the quarter. Marshall Financial Group LLC’s holdings in Copart were worth $1,671,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. lifted 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 last quarter. Norges Bank purchased a new stake in shares of Copart in the fourth quarter valued at about $463,262,000. Wellington Management Group LLP boosted its stake in shares of Copart by 84.4% during the third quarter. Wellington Management Group LLP now owns 17,929,180 shares of the business services provider’s stock worth $772,568,000 after buying an additional 8,205,757 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of 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 during the period. Finally, Morgan Stanley grew its holdings in shares of Copart by 102.2% during the third quarter. Morgan Stanley now owns 9,725,148 shares of the business services provider’s stock worth $419,057,000 after buying an additional 4,915,348 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Trading Down 1.5 %

Shares of CPRT traded down $0.80 during mid-day trading on Thursday, hitting $53.89. The company’s stock had a trading volume of 2,265,871 shares, compared to its average volume of 4,617,671. Copart, Inc. has a 1-year low of $42.41 and a 1-year high of $58.58. The firm has a market capitalization of $51.86 billion, a P/E ratio of 37.95 and a beta of 1.27. The firm has a 50-day simple moving average of $54.26 and a 200 day simple moving average of $52.71.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results 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. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.11 billion. Copart had a net margin of 33.33% and a return on equity of 20.80%. The business’s revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.36 EPS. As a group, sell-side analysts predict that Copart, Inc. will post 1.43 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. increased their price objective on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $51.00.

Copart 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.