IFM Investors Pty Ltd lifted its stake in Copart, Inc. (NASDAQ:CPRT – Get Rating) by 14.2% in the second quarter, HoldingsChannel reports. The fund owned 36,788 shares of the business services provider's stock after purchasing an additional 4,562 shares during the quarter. IFM Investors Pty Ltd's holdings in Copart were worth $3,997,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Copart by 1.2% during the first quarter. Vanguard Group Inc. now owns 22,968,882 shares of the business services provider's stock valued at $2,881,905,000 after purchasing an additional 270,867 shares during the last quarter. BlackRock Inc. lifted its stake in Copart by 2.5% during the first quarter. BlackRock Inc. now owns 19,934,489 shares of the business services provider's stock valued at $2,501,179,000 after purchasing an additional 485,924 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Copart by 19.5% during the first quarter. Principal Financial Group Inc. now owns 9,516,210 shares of the business services provider's stock valued at $1,194,000,000 after purchasing an additional 1,552,884 shares during the last quarter. State Street Corp lifted its stake in Copart by 2.9% during the fourth quarter. State Street Corp now owns 8,860,818 shares of the business services provider's stock valued at $1,343,477,000 after purchasing an additional 246,666 shares during the last quarter. Finally, Capital World Investors lifted its stake in Copart by 1.0% during the first quarter. Capital World Investors now owns 4,840,297 shares of the business services provider's stock valued at $607,312,000 after purchasing an additional 48,523 shares during the last quarter. 80.92% of the stock is owned by institutional investors and hedge funds.
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Wall Street Analyst Weigh In
Several analysts recently commented on the stock. Stephens cut their target price on shares of Copart to $141.00 in a research note on Tuesday, September 13th. Robert W. Baird reduced their price target on shares of Copart from $150.00 to $135.00 in a research report on Friday, September 9th.
Copart Stock Performance
Shares of NASDAQ:CPRT opened at $106.14 on Friday. The company has a market cap of $25.23 billion, a PE ratio of 23.43 and a beta of 1.16. Copart, Inc. has a 52 week low of $102.21 and a 52 week high of $161.12. The firm has a 50 day simple moving average of $121.30 and a 200 day simple moving average of $117.64.
Copart (NASDAQ:CPRT – Get Rating) last issued its quarterly earnings results on Wednesday, September 7th. The business services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.08 by $0.05. The business had revenue of $883.39 million during the quarter, compared to the consensus estimate of $874.14 million. Copart had a net margin of 31.14% and a return on equity of 25.53%. The firm's quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.03 EPS. On average, equities analysts predict that Copart, Inc. will post 4.71 earnings per share for the current year.
About Copart
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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.
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