Motley Fool Asset Management LLC Buys 5,141 Shares of Copart, Inc. (NASDAQ:CPRT)

Motley Fool Asset Management LLC lifted its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 13.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,874 shares of the business services provider's stock after buying an additional 5,141 shares during the period. Motley Fool Asset Management LLC's holdings in Copart were worth $2,518,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CPRT. Norges Bank acquired a new position in Copart during the fourth quarter worth $682,089,000. Madison Investment Advisors LLC acquired a new stake in shares of Copart during the 4th quarter worth about $253,686,000. Bank of New York Mellon Corp lifted its holdings in Copart by 23.3% during the 4th quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider's stock valued at $1,115,664,000 after purchasing an additional 3,667,534 shares during the last quarter. Franklin Resources Inc. boosted its position in Copart by 335.8% in the third quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider's stock valued at $149,471,000 after buying an additional 2,084,626 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Copart by 14.4% during the fourth quarter. Wellington Management Group LLP now owns 14,157,306 shares of the business services provider's stock worth $812,488,000 after buying an additional 1,785,741 shares during the last quarter. Institutional investors own 85.78% of the company's stock.

Insider Activity

In other Copart news, Director James E. Meeks sold 100,000 shares of the company'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 filing with the SEC, which is available through this hyperlink. Insiders own 9.68% of the company's stock.

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Analysts Set New Price Targets

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

Copart Stock Up 7.2 %

NASDAQ:CPRT traded up $3.93 during mid-day trading on Wednesday, reaching $58.52. 10,567,632 shares of the company were exchanged, compared to its average volume of 4,371,222. Copart, Inc. has a 12 month low of $48.05 and a 12 month high of $64.38. The stock has a market cap of $56.54 billion, a PE ratio of 39.28 and a beta of 1.22. The company has a fifty day moving average of $56.06 and a 200 day moving average of $56.54.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.13 billion. On average, equities research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal year.

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.