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

EP Wealth Advisors LLC lifted its position in shares of Copart, Inc. (NASDAQ:CPRT) by 18.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,402 shares of the business services provider’s stock after buying an additional 1,614 shares during the quarter. EP Wealth Advisors LLC’s holdings in Copart were worth $602,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CPRT. CreativeOne Wealth LLC purchased a new stake in Copart in the 1st quarter worth approximately $344,000. EntryPoint Capital LLC purchased a new stake in shares of Copart in the first quarter valued at $144,000. Fayez Sarofim & Co acquired a new position in Copart in the first quarter valued at $216,000. LGT Group Foundation increased its stake in Copart by 15.2% in the first quarter. LGT Group Foundation now owns 261,267 shares of the business services provider’s stock valued at $15,133,000 after purchasing an additional 34,452 shares during the last quarter. Finally, Shell Asset Management Co. lifted its position in Copart by 2.2% during the first quarter. Shell Asset Management Co. now owns 94,135 shares of the business services provider’s stock worth $5,452,000 after buying an additional 2,040 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

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

Copart Stock Performance

Shares of CPRT stock traded up $0.62 during trading hours on Friday, reaching $51.05. The company had a trading volume of 3,960,505 shares, compared to its average volume of 4,488,578. The company has a market capitalization of $49.13 billion, a P/E ratio of 35.95 and a beta of 1.27. Copart, Inc. has a twelve month low of $42.41 and a twelve month high of $58.58. The stock’s fifty day simple moving average is $53.71 and its 200 day simple moving average is $53.24.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, May 16th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $1.11 billion. During the same quarter last year, the company earned $0.36 earnings per share. Copart’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, equities analysts expect that Copart, Inc. will post 1.43 earnings per share for the current 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.