First Merchants Corp Buys 4,118 Shares of Copart, Inc. (NASDAQ:CPRT)

First Merchants Corp lifted its stake in Copart, Inc. (NASDAQ:CPRT) by 3.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,116 shares of the business services provider’s stock after purchasing an additional 4,118 shares during the quarter. First Merchants Corp’s holdings in Copart were worth $7,193,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Copart by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 102,129,032 shares of the business services provider’s stock valued at $5,861,185,000 after acquiring an additional 976,909 shares during the period. Edgewood Management LLC grew its holdings in Copart by 14.1% during the fourth quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider’s stock valued at $1,346,548,000 after purchasing an additional 2,907,405 shares during the period. Capital World Investors grew its holdings in Copart by 0.8% during the fourth quarter. Capital World Investors now owns 21,353,932 shares of the business services provider’s stock valued at $1,225,502,000 after purchasing an additional 169,354 shares during the period. Geode Capital Management LLC increased its position in Copart by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 19,172,603 shares of the business services provider’s stock worth $1,097,153,000 after buying an additional 408,677 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Copart by 2.7% in the fourth quarter. FMR LLC now owns 14,504,704 shares of the business services provider’s stock worth $832,425,000 after buying an additional 380,691 shares during the period. Institutional investors own 85.78% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on CPRT shares. Argus downgraded shares of Copart from a “buy” rating to a “hold” rating in a research report on Friday, March 14th. JPMorgan Chase & Co. dropped their price objective on Copart from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, May 23rd.

Copart Stock Up 0.2%

NASDAQ CPRT opened at $48.24 on Friday. Copart, Inc. has a 52 week low of $47.33 and a 52 week high of $64.38. The firm has a market capitalization of $46.65 billion, a price-to-earnings ratio of 31.74 and a beta of 1.10. The company has a fifty day moving average of $55.65 and a two-hundred day moving average of $56.61.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.23 billion. Copart had a return on equity of 18.20% and a net margin of 32.21%. Copart’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the company earned $0.39 EPS. Equities research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Insider Activity

In other Copart news, Director Steven D. Cohan sold 94,997 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $60.01, for a total transaction of $5,700,769.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 9.68% of the company’s stock.

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.