Copart, Inc. (NASDAQ:CPRT) Shares Sold by Burney Co.

Burney Co. cut its position in Copart, Inc. (NASDAQ:CPRT) by 6.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,795 shares of the business services provider’s stock after selling 1,100 shares during the period. Burney Co.’s holdings in Copart were worth $857,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Blue Trust Inc. grew its stake in Copart by 526.0% during the 4th quarter. Blue Trust Inc. now owns 1,252 shares of the business services provider’s stock worth $61,000 after buying an additional 1,052 shares during the last quarter. Trust Point Inc. purchased a new stake in shares of Copart during the fourth quarter worth approximately $373,000. Arizona State Retirement System lifted its holdings in shares of Copart by 1.0% during the fourth quarter. Arizona State Retirement System now owns 236,808 shares of the business services provider’s stock worth $11,604,000 after purchasing an additional 2,349 shares during the period. Asset Management One Co. Ltd. grew its position in Copart by 26.2% in the 4th quarter. Asset Management One Co. Ltd. now owns 443,816 shares of the business services provider’s stock valued at $21,707,000 after buying an additional 92,060 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in Copart in the 4th quarter valued at $3,285,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Stock Performance

Shares of CPRT traded down $0.50 during trading hours on Friday, hitting $51.73. The stock had a trading volume of 3,767,234 shares, compared to its average volume of 4,364,919. Copart, Inc. has a 12-month low of $42.41 and a 12-month high of $58.58. The firm has a market cap of $49.78 billion, a P/E ratio of 36.43 and a beta of 1.28. The company’s fifty day simple moving average is $53.40 and its 200 day simple moving average is $53.41.

Copart (NASDAQ:CPRT) last released its quarterly earnings data 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. Copart had a net margin of 33.33% and a return on equity of 20.80%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the business earned $0.36 earnings per share. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, sell-side analysts predict that Copart, Inc. will post 1.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.