Korea Investment CORP Has $30.40 Million Stake in Copart, Inc. (NASDAQ:CPRT)

Korea Investment CORP lifted its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 88.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 529,666 shares of the business services provider's stock after acquiring an additional 249,262 shares during the period. Korea Investment CORP owned approximately 0.05% of Copart worth $30,398,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Copart by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 102,129,032 shares of the business services provider's stock valued at $5,861,185,000 after buying an additional 976,909 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Copart by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider's stock valued at $2,037,130,000 after acquiring an additional 941,858 shares during the last quarter. State Street Corp grew its holdings in Copart by 0.4% during the 3rd quarter. State Street Corp now owns 34,157,967 shares of the business services provider's stock worth $1,789,877,000 after acquiring an additional 120,939 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Copart by 23.3% in the 4th quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider's stock worth $1,115,664,000 after purchasing an additional 3,667,534 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Copart by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider's stock valued at $979,547,000 after purchasing an additional 291,580 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company's stock.

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Wall Street Analysts Forecast Growth

Separately, Argus lowered Copart from a "buy" rating to a "hold" rating in a report on Friday, March 14th.

Copart Stock Up 2.6 %

CPRT stock traded up $1.44 during trading on Monday, hitting $56.59. 7,550,521 shares of the company's stock traded hands, compared to its average volume of 4,271,787. The stock has a market capitalization of $54.67 billion, a price-to-earnings ratio of 37.98 and a beta of 1.30. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38. The stock has a fifty day moving average price of $56.33 and a two-hundred day moving average price of $56.23.

Copart (NASDAQ:CPRT - Get Free Report) last posted its earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.38 by $0.02. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. As a group, equities research analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Activity at Copart

In related news, Director James E. Meeks sold 100,000 shares of the company's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total value of $5,400,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel J. Englander sold 235,480 shares of the business's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. Insiders have sold 385,480 shares of company stock worth $21,667,683 over the last quarter. 9.68% of the stock is currently owned by company insiders.

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.