Copart, Inc. (NASDAQ:CPRT) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 272.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 168,730 shares of the business services provider’s stock after acquiring an additional 123,414 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Copart were worth $9,773,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Perpetual Ltd raised its position in shares of Copart by 9.6% in the 1st quarter. Perpetual Ltd now owns 161,318 shares of the business services provider’s stock valued at $9,344,000 after purchasing an additional 14,126 shares in the last quarter. Baird Financial Group Inc. boosted its stake in Copart by 15.9% during the 4th quarter. Baird Financial Group Inc. now owns 2,922,176 shares of the business services provider’s stock valued at $143,187,000 after acquiring an additional 400,940 shares during the last quarter. Nordea Investment Management AB boosted its stake in Copart by 64.1% during the 4th quarter. Nordea Investment Management AB now owns 1,441,839 shares of the business services provider’s stock valued at $70,448,000 after acquiring an additional 563,233 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Copart by 1.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,848,048 shares of the business services provider’s stock worth $139,554,000 after acquiring an additional 44,248 shares in the last quarter. Finally, CHURCHILL MANAGEMENT Corp raised its stake in shares of Copart by 57.9% in the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 63,521 shares of the business services provider’s stock valued at $3,113,000 after purchasing an additional 23,304 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. lifted their price target on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Copart currently has an average rating of “Hold” and an average price target of $51.00.

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $54.16 on Friday. The company’s fifty day moving average is $54.27 and its two-hundred day moving average is $52.61. Copart, Inc. has a 1-year low of $42.41 and a 1-year high of $58.58. The stock has a market capitalization of $52.12 billion, a price-to-earnings ratio of 38.14 and a beta of 1.26.

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