EP Wealth Advisors LLC Boosts Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

EP Wealth Advisors LLC grew its position in shares of Copart, Inc. (NASDAQ:CPRT) by 11.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,788 shares of the business services provider’s stock after buying an additional 872 shares during the quarter. EP Wealth Advisors LLC’s holdings in Copart were worth $431,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Copart by 100.6% during the third quarter. Vanguard Group Inc. now owns 97,512,662 shares of the business services provider’s stock valued at $4,201,821,000 after buying an additional 48,891,984 shares during the last quarter. Capital World Investors boosted its holdings in Copart by 1.0% in the fourth quarter. Capital World Investors now owns 21,419,398 shares of the business services provider’s stock worth $1,049,551,000 after purchasing an additional 207,349 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Copart by 84.4% in the third quarter. Wellington Management Group LLP now owns 17,929,180 shares of the business services provider’s stock worth $772,568,000 after purchasing an additional 8,205,757 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Copart by 79.1% in the third quarter. JPMorgan Chase & Co. now owns 17,359,152 shares of the business services provider’s stock worth $748,006,000 after purchasing an additional 7,666,881 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in Copart by 102.2% in the third quarter. Morgan Stanley now owns 9,725,148 shares of the business services provider’s stock worth $419,057,000 after purchasing an additional 4,915,348 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. StockNews.com cut shares of Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. JPMorgan Chase & Co. raised their target price on shares of Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Copart has a consensus rating of “Hold” and an average target price of $51.00.

Insiders Place Their Bets

In other Copart news, Chairman A Jayson Adair sold 600,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value of $34,662,000.00. Following the transaction, the chairman now directly owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 10.23% of the company’s stock.

Copart Trading Up 0.9 %

CPRT opened at $54.86 on Wednesday. Copart, Inc. has a 1-year low of $42.41 and a 1-year high of $58.58. The company has a market capitalization of $52.79 billion, a PE ratio of 38.63 and a beta of 1.26. The firm’s 50 day simple moving average is $54.30 and its two-hundred day simple moving average is $52.26.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, May 16th. The business services provider reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. Copart had a net margin of 33.33% and a return on equity of 20.80%. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the firm earned $0.36 earnings per share. The company’s quarterly revenue was up 10.3% on a year-over-year basis. Equities analysts forecast that Copart, Inc. will post 1.43 earnings per share for the current fiscal year.

Copart Company 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.