Copart, Inc. (NASDAQ:CPRT) Shares Bought by MML Investors Services LLC

MML Investors Services LLC lifted its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 3.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 158,022 shares of the business services provider's stock after buying an additional 4,985 shares during the period. MML Investors Services LLC's holdings in Copart were worth $9,069,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. boosted its position in shares of 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 worth $2,037,130,000 after purchasing an additional 941,858 shares in the last quarter. Barclays PLC boosted its holdings in Copart by 0.4% during the third quarter. Barclays PLC now owns 6,042,734 shares of the business services provider's stock worth $316,639,000 after buying an additional 21,710 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Copart during the third quarter worth about $317,000. Tidal Investments LLC grew its position in Copart by 7.8% during the third quarter. Tidal Investments LLC now owns 88,324 shares of the business services provider's stock worth $4,628,000 after buying an additional 6,421 shares during the period. Finally, Peapack Gladstone Financial Corp increased its holdings in Copart by 6.5% in the third quarter. Peapack Gladstone Financial Corp now owns 104,650 shares of the business services provider's stock valued at $5,484,000 after buying an additional 6,385 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Copart Stock Down 1.7 %

Shares of Copart stock traded down $1.07 on Friday, hitting $60.90. The company's stock had a trading volume of 4,381,054 shares, compared to its average volume of 4,421,581. The firm has a fifty day moving average price of $56.34 and a 200-day moving average price of $57.14. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The company has a market capitalization of $58.84 billion, a P/E ratio of 40.87 and a beta of 1.22.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly 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. Copart had a net margin of 32.27% and a return on equity of 19.31%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. As a group, analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Insiders Place Their Bets

In other Copart news, Director James E. Meeks sold 100,000 shares of the firm's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total transaction of $5,400,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Steven D. Cohan sold 94,997 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $60.01, for a total transaction of $5,700,769.97. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 200,000 shares of company stock valued at $11,401,000. Corporate insiders own 9.68% of the company's stock.

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.