First Trust Direct Indexing L.P. Grows Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

First Trust Direct Indexing L.P. boosted its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 19.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,292 shares of the business services provider’s stock after purchasing an additional 2,871 shares during the period. First Trust Direct Indexing L.P.’s holdings in Copart were worth $1,002,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Rathbones Group PLC lifted its stake in shares of Copart by 2.9% in the 4th quarter. Rathbones Group PLC now owns 7,821 shares of the business services provider’s stock valued at $383,000 after purchasing an additional 221 shares during the period. Panagora Asset Management Inc. boosted its holdings in shares of Copart by 0.9% during the 4th quarter. Panagora Asset Management Inc. now owns 25,133 shares of the business services provider’s stock valued at $1,232,000 after buying an additional 226 shares in the last quarter. Pinnacle Bancorp Inc. grew its position in shares of Copart by 79.6% in the 1st quarter. Pinnacle Bancorp Inc. now owns 528 shares of the business services provider’s stock worth $31,000 after buying an additional 234 shares during the period. Wedmont Private Capital increased its stake in shares of Copart by 1.5% in the 1st quarter. Wedmont Private Capital now owns 16,791 shares of the business services provider’s stock worth $952,000 after acquiring an additional 243 shares in the last quarter. Finally, Savant Capital LLC boosted its stake in Copart by 3.8% during the fourth quarter. Savant Capital LLC now owns 6,933 shares of the business services provider’s stock worth $340,000 after acquiring an additional 251 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Price Performance

Shares of Copart stock opened at $53.89 on Friday. The stock has a market capitalization of $51.86 billion, a PE ratio of 37.95 and a beta of 1.27. Copart, Inc. has a 1-year low of $42.41 and a 1-year high of $58.58. The company’s fifty day simple moving average is $54.23 and its 200-day simple moving average is $52.71.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, May 16th. The business services provider reported $0.39 earnings per share (EPS) 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 company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the firm posted $0.36 EPS. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. As a group, research analysts anticipate that Copart, Inc. will post 1.43 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. boosted their price target on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Copart presently has a consensus rating of “Hold” and an average price target of $51.00.

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.