QRG Capital Management Inc. Has $6.43 Million Position in Copart, Inc. (NASDAQ:CPRT)

QRG Capital Management Inc. grew its position in Copart, Inc. (NASDAQ:CPRT) by 3.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 112,100 shares of the business services provider’s stock after purchasing an additional 3,220 shares during the quarter. QRG Capital Management Inc.’s holdings in Copart were worth $6,433,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in shares of Copart by 2.5% in the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock valued at $2,037,130,000 after buying an additional 941,858 shares in the last quarter. State Street Corp raised its position in shares of Copart by 0.4% in the 3rd quarter. State Street Corp now owns 34,157,967 shares of the business services provider’s stock valued at $1,789,877,000 after buying an additional 120,939 shares in the last quarter. Edgewood Management LLC raised its position in shares of Copart by 0.6% in the 3rd quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider’s stock valued at $1,077,119,000 after buying an additional 125,220 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Copart by 23.3% in the 4th quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider’s stock valued at $1,115,664,000 after buying an additional 3,667,534 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Copart by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider’s stock valued at $979,547,000 after buying an additional 291,580 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Trading Down 0.8 %

Shares of Copart stock opened at $54.80 on Friday. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The firm has a market capitalization of $52.80 billion, a PE ratio of 36.78 and a beta of 1.33. The firm’s 50 day moving average is $57.62 and its 200 day moving average is $55.85.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Copart had a net margin of 32.27% and a return on equity of 19.31%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. As a group, research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Activity

In related news, Director Matt Blunt sold 50,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total transaction of $2,883,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Daniel J. Englander sold 235,480 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 398,790 shares of company stock valued at $23,161,540. 9.68% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lifted their price target on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th.

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.