Royal Bank of Canada Raises Holdings in Copart, Inc. $CPRT

Royal Bank of Canada grew its position in Copart, Inc. (NASDAQ:CPRT) by 3.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,380,881 shares of the business services provider’s stock after buying an additional 229,843 shares during the quarter. Royal Bank of Canada owned 0.66% of Copart worth $361,093,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Nuveen LLC purchased a new stake in shares of Copart during the 1st quarter worth $267,723,000. Fiera Capital Corp lifted its stake in shares of Copart by 195.6% during the 1st quarter. Fiera Capital Corp now owns 3,992,610 shares of the business services provider’s stock worth $225,942,000 after purchasing an additional 2,642,100 shares during the last quarter. Vanguard Group Inc. increased its position in Copart by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider’s stock valued at $5,900,295,000 after buying an additional 2,134,890 shares in the last quarter. JPMorgan Chase & Co. increased its position in Copart by 15.9% during the 1st quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider’s stock valued at $868,417,000 after buying an additional 2,106,656 shares in the last quarter. Finally, Douglass Winthrop Advisors LLC acquired a new position in Copart during the 1st quarter valued at about $87,903,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Performance

Shares of CPRT stock opened at $48.81 on Monday. The stock’s 50-day simple moving average is $47.41 and its 200-day simple moving average is $53.09. The firm has a market capitalization of $47.20 billion, a PE ratio of 32.11 and a beta of 1.03. Copart, Inc. has a fifty-two week low of $45.05 and a fifty-two week high of $64.38.

Analyst Ratings Changes

Several research analysts recently issued reports on CPRT shares. Stephens started coverage on Copart in a research report on Tuesday, July 8th. They set an “equal weight” rating and a $50.00 target price on the stock. Robert W. Baird reduced their target price on Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, July 17th. Finally, JPMorgan Chase & Co. reduced their target price on Copart from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, May 23rd. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $53.33.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of the stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total value of $1,118,405.84. Following the transaction, the chief executive officer directly owned 31,527 shares of the company’s stock, valued at approximately $1,463,798.61. This represents a 43.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 9.68% of the company’s stock.

Copart Company 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.