Copart, Inc. $CPRT Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 4,135.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,809,924 shares of the business services provider’s stock after buying an additional 1,767,187 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Copart were worth $59,764,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CPRT. State Street Corp boosted its holdings in shares of Copart by 1.3% in the fourth quarter. State Street Corp now owns 37,555,437 shares of the business services provider’s stock valued at $1,470,295,000 after acquiring an additional 492,506 shares during the period. Capital World Investors increased its holdings in shares of Copart by 25.1% in the 4th quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock valued at $1,085,588,000 after acquiring an additional 5,555,101 shares during the period. Geode Capital Management LLC increased its holdings in shares of Copart by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 23,255,161 shares of the business services provider’s stock valued at $906,836,000 after acquiring an additional 131,703 shares during the period. Bank of New York Mellon Corp raised its position in Copart by 21.7% in the 4th quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock valued at $860,618,000 after purchasing an additional 3,918,610 shares during the last quarter. Finally, Norges Bank purchased a new stake in Copart in the 4th quarter valued at $569,569,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Down 2.4%

Shares of NASDAQ CPRT opened at $27.61 on Friday. Copart, Inc. has a 52 week low of $27.23 and a 52 week high of $50.11. The firm has a 50-day moving average price of $30.72 and a 200 day moving average price of $34.48. The stock has a market capitalization of $25.56 billion, a price-to-earnings ratio of 17.15 and a beta of 1.02.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.02. Copart had a net margin of 33.48% and a return on equity of 16.63%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the business posted $0.42 earnings per share. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities research analysts expect that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on CPRT shares. Jefferies Financial Group set a $45.00 price objective on shares of Copart in a research report on Friday, May 22nd. Freedom Capital raised shares of Copart to a “strong-buy” rating in a report on Friday, June 26th. Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Weiss Ratings lowered Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Three investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Copart currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.50.

Copart Company Profile

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.