Holocene Advisors LP Increases Holdings in Copart, Inc. (NASDAQ:CPRT)

Holocene Advisors LP grew its holdings in Copart, Inc. (NASDAQ:CPRT) by 25.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,485,057 shares of the business services provider’s stock after acquiring an additional 298,194 shares during the period. Holocene Advisors LP owned about 0.15% of Copart worth $77,817,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Principal Financial Group Inc. lifted its position in shares of Copart by 2.5% in the third quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock worth $2,037,130,000 after buying an additional 941,858 shares in the last quarter. Edgewood Management LLC lifted its position in shares of Copart by 0.6% in the third quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider’s stock worth $1,077,119,000 after buying an additional 125,220 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Copart by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider’s stock worth $867,017,000 after buying an additional 1,199,781 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Copart by 0.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,898,956 shares of the business services provider’s stock worth $427,807,000 after buying an additional 30,454 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in shares of Copart by 9.4% in the second quarter. Legal & General Group Plc now owns 6,943,042 shares of the business services provider’s stock worth $376,035,000 after buying an additional 598,566 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. boosted their target price on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Robert W. Baird decreased their target price on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th.

Insider Activity

In other news, Chairman A Jayson Adair sold 251,423 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the transaction, the chairman now owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 9.68% of the company’s stock.

Copart Price Performance

Shares of NASDAQ CPRT opened at $62.02 on Tuesday. The business’s 50 day moving average is $55.06 and its two-hundred day moving average is $53.49. Copart, Inc. has a 1-year low of $46.21 and a 1-year high of $64.38. The stock has a market capitalization of $59.76 billion, a P/E ratio of 43.68 and a beta of 1.27.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). Copart had a return on equity of 18.96% and a net margin of 31.92%. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the firm earned $0.34 earnings per share. The company’s revenue was up 7.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

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.