Jacobi Capital Management LLC Acquires 410 Shares of Copart, Inc. (NASDAQ:CPRT)

Jacobi Capital Management LLC boosted its stake in Copart, Inc. (NASDAQ:CPRT) by 9.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,782 shares of the business services provider’s stock after purchasing an additional 410 shares during the period. Jacobi Capital Management LLC’s holdings in Copart were worth $277,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CPRT. Norges Bank acquired a new position in shares of Copart in the 4th quarter worth approximately $463,262,000. Bank of New York Mellon Corp lifted its holdings in Copart by 116.1% in the first quarter. Bank of New York Mellon Corp now owns 14,808,663 shares of the business services provider’s stock valued at $857,718,000 after buying an additional 7,956,043 shares during the period. Mackenzie Financial Corp lifted its holdings in Copart by 243.3% in the fourth quarter. Mackenzie Financial Corp now owns 3,839,773 shares of the business services provider’s stock valued at $188,149,000 after buying an additional 2,721,412 shares during the period. TD Asset Management Inc boosted its position in Copart by 258.1% during the fourth quarter. TD Asset Management Inc now owns 3,392,855 shares of the business services provider’s stock valued at $166,250,000 after acquiring an additional 2,445,440 shares during the last quarter. Finally, Epoch Investment Partners Inc. grew its holdings in Copart by 250.2% during the 4th quarter. Epoch Investment Partners Inc. now owns 1,773,555 shares of the business services provider’s stock worth $86,904,000 after acquiring an additional 1,267,130 shares during the period. 85.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Copart Price Performance

Shares of Copart stock traded up $0.04 during trading on Tuesday, reaching $52.57. 411,184 shares of the company traded hands, compared to its average volume of 4,471,517. The firm has a market capitalization of $50.59 billion, a PE ratio of 37.11 and a beta of 1.28. Copart, Inc. has a 1-year low of $42.41 and a 1-year high of $58.58. The company has a 50 day moving average price of $53.92 and a 200-day moving average price of $53.24.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, May 16th. The business services provider reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.01. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.11 billion. Copart had a net margin of 33.33% and a return on equity of 20.80%. The business’s revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 earnings per share. Equities research analysts expect that Copart, Inc. will post 1.43 earnings per share for the current year.

About Copart

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.