Copart, Inc. (NASDAQ:CPRT) Shares Acquired by State Street Corp

State Street Corp increased its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 0.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,157,967 shares of the business services provider's stock after purchasing an additional 120,939 shares during the period. State Street Corp owned 3.55% of Copart worth $1,789,877,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Optimum Investment Advisors raised its position in shares of Copart by 141.5% in the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider's stock valued at $27,000 after buying an additional 300 shares during the last quarter. Eastern Bank purchased a new position in shares of Copart during the 3rd quarter worth $29,000. Quarry LP acquired a new stake in shares of Copart during the third quarter worth $29,000. Crewe Advisors LLC grew its position in shares of Copart by 98.6% in the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider's stock valued at $31,000 after purchasing an additional 280 shares during the period. Finally, Meeder Asset Management Inc. increased its stake in Copart by 283.3% in the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider's stock valued at $31,000 after purchasing an additional 425 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CPRT. Robert W. Baird decreased their price target on Copart from $58.00 to $56.00 and set an "outperform" rating on the stock in a research note on Thursday, September 5th. JPMorgan Chase & Co. boosted their target price on shares of Copart from $55.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, November 19th.

Insider Transactions at Copart

In other Copart news, Chairman A Jayson Adair sold 251,423 shares of the company's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total value of $16,038,273.17. Following the completion of the transaction, the chairman now owns 14,436,557 shares in the company, valued at $920,907,971.03. This represents a 1.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 9.68% of the company's stock.

Copart Stock Performance

Copart stock traded up $0.17 during midday trading on Friday, reaching $62.08. The stock had a trading volume of 2,905,943 shares, compared to its average volume of 4,609,977. The stock's 50-day simple moving average is $56.07 and its 200 day simple moving average is $53.77. Copart, Inc. has a twelve month low of $46.21 and a twelve month high of $64.38. The stock has a market capitalization of $59.82 billion, a PE ratio of 43.72 and a beta of 1.31.

Copart (NASDAQ:CPRT - Get Free Report) last issued its earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.37. The business had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The company's revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 EPS. Equities analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

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.