Lazard Asset Management LLC Maintains Stake in Copart, Inc. (CPRT)

Lazard Asset Management LLC

recently revealed that they own 1.4% of Copart, Inc. (NASDAQ:CPRT) in a Form 13G/A disclosure that was filed with the SEC on Tuesday, October 10th. The investor owns 3,107,115 shares of the stock valued at approximately $109,960,800. The disclosure is available through EDGAR at this hyperlink.

A number of other hedge funds also recently bought and sold shares of CPRT. Vanguard Group Inc. lifted its position in shares of Copart by 103.5% in the second quarter. Vanguard Group Inc. now owns 16,180,796 shares of the business services provider’s stock valued at $514,387,000 after buying an additional 8,230,677 shares during the last quarter. BlackRock Inc. lifted its position in shares of Copart by 103.6% in the second quarter. BlackRock Inc. now owns 16,093,508 shares of the business services provider’s stock valued at $511,611,000 after buying an additional 8,189,852 shares during the last quarter. William Blair Investment Management LLC lifted its position in shares of Copart by 91.4% in the second quarter. William Blair Investment Management LLC now owns 10,526,463 shares of the business services provider’s stock valued at $334,636,000 after buying an additional 5,025,918 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Copart by 106.5% in the second quarter. Principal Financial Group Inc. now owns 7,417,734 shares of the business services provider’s stock valued at $235,810,000 after buying an additional 3,826,242 shares during the last quarter. Finally, Wasatch Advisors Inc. lifted its position in shares of Copart by 109.9% in the second quarter. Wasatch Advisors Inc. now owns 7,061,828 shares of the business services provider’s stock valued at $224,496,000 after buying an additional 3,697,382 shares during the last quarter. Hedge funds and other institutional investors own 79.59% of the company’s stock.

A number of research firms have recently issued reports on CPRT. Jefferies Group LLC reaffirmed a “hold” rating and issued a $33.00 price objective on shares of Copart in a research report on Thursday, July 6th. Robert W. Baird raised their price objective on Copart from $33.00 to $37.00 and gave the company an “outperform” rating in a research report on Thursday, September 21st. Zacks Investment Research cut Copart from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, CJS Securities reaffirmed an “outperform” rating and issued a $42.00 price objective on shares of Copart in a research report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $37.33.

In other news, President Vincent W. Mitz sold 200,000 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $34.32, for a total value of $6,864,000.00. Following the completion of the transaction, the president now directly owns 47,660 shares of the company’s stock, valued at $1,635,691.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James E. Meeks sold 160,000 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $34.33, for a total value of $5,492,800.00. Following the completion of the transaction, the director now directly owns 3,500 shares of the company’s stock, valued at $120,155. The disclosure for this sale can be found here. Corporate insiders own 17.00% of the company’s stock.

Copart, Inc. (NASDAQ CPRT) traded up 0.20% during mid-day trading on Tuesday, reaching $35.46. The company had a trading volume of 229,715 shares. Copart, Inc. has a one year low of $25.37 and a one year high of $35.66. The stock has a market capitalization of $8.18 billion, a PE ratio of 21.36 and a beta of 1.19. The company’s 50-day moving average is $33.13 and its 200-day moving average is $34.14.

Copart (NASDAQ:CPRT) last released its earnings results on Tuesday, September 19th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.04. The company had revenue of $378.60 million during the quarter, compared to analyst estimates of $355.42 million. Copart had a return on equity of 31.83% and a net margin of 27.23%. Copart’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.31 earnings per share. Equities research analysts anticipate that Copart, Inc. will post $1.43 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: “Lazard Asset Management LLC Maintains Stake in Copart, Inc. (CPRT)” was first posted by Community Financial News and is owned by of Community Financial News. If you are viewing this article on another website, it was copied illegally and reposted in violation of United States and international copyright laws. The correct version of this article can be accessed at https://www.com-unik.info/2017/10/10/lazard-asset-management-llc-maintains-stake-in-copart-inc-cprt.html.

About Copart

Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.

Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

What are top analysts saying about Copart Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Copart Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit