Bright Rock Capital Management LLC boosted its position in shares of Copart, Inc. (NASDAQ:CPRT) by 100.0% during the second quarter, Holdings Channel reports. The institutional investor owned 80,000 shares of the business services provider’s stock after buying an additional 40,000 shares during the period. Bright Rock Capital Management LLC’s holdings in Copart were worth $2,543,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Morgan Dempsey Capital Management LLC increased its stake in shares of Copart by 94.5% in the second quarter. Morgan Dempsey Capital Management LLC now owns 7,746 shares of the business services provider’s stock worth $246,000 after buying an additional 3,763 shares in the last quarter. Cigna Investments Inc. New increased its stake in shares of Copart by 247.7% in the second quarter. Cigna Investments Inc. New now owns 14,876 shares of the business services provider’s stock worth $473,000 after buying an additional 10,597 shares in the last quarter. Global X Management Co. LLC increased its stake in shares of Copart by 104.1% in the second quarter. Global X Management Co. LLC now owns 9,403 shares of the business services provider’s stock worth $299,000 after buying an additional 4,796 shares in the last quarter. British Airways Pensions Investment Management Ltd increased its stake in shares of Copart by 100.0% in the second quarter. British Airways Pensions Investment Management Ltd now owns 580,808 shares of the business services provider’s stock worth $18,453,000 after buying an additional 290,404 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. increased its stake in shares of Copart by 100.0% in the second quarter. Hussman Strategic Advisors Inc. now owns 200,000 shares of the business services provider’s stock worth $6,358,000 after buying an additional 100,000 shares in the last quarter. Institutional investors and hedge funds own 42.25% of the company’s stock.

Shares of Copart, Inc. (NASDAQ CPRT) opened at 31.45 on Thursday. Copart, Inc. has a one year low of $24.71 and a one year high of $32.17. The firm’s 50-day moving average is $31.35 and its 200 day moving average is $42.21. The firm has a market capitalization of $7.24 billion, a P/E ratio of 18.15 and a beta of 1.22.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Wednesday, May 24th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The firm had revenue of $373.90 million for the quarter, compared to analysts’ expectations of $386.61 million. Copart had a return on equity of 33.20% and a net margin of 29.10%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.64 EPS. Equities research analysts predict that Copart, Inc. will post $1.25 earnings per share for the current year.

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A number of analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Copart from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC reiterated a “hold” rating and issued a $33.00 price target on shares of Copart in a research report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $48.80.

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.

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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