Empowered Funds LLC Grows Position in Copart, Inc. (NASDAQ:CPRT)

Empowered Funds LLC increased its position in Copart, Inc. (NASDAQ:CPRT) by 31.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 84,445 shares of the business services provider’s stock after buying an additional 20,376 shares during the quarter. Empowered Funds LLC’s holdings in Copart were worth $4,846,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CPRT. Jensen Investment Management Inc. raised its stake in shares of Copart by 2,466.0% during the third quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock valued at $185,299,000 after acquiring an additional 3,398,423 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Copart by 462.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock valued at $192,240,000 after purchasing an additional 3,016,795 shares during the period. Franklin Resources Inc. raised its position in Copart by 335.8% during the 3rd quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock valued at $149,471,000 after purchasing an additional 2,084,626 shares during the last quarter. Comgest Global Investors S.A.S. lifted its holdings in Copart by 706.6% in the 3rd quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock worth $83,153,000 after buying an additional 1,390,146 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Copart by 1,103.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,062,931 shares of the business services provider’s stock worth $55,698,000 after buying an additional 974,585 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Copart Trading Up 1.0 %

Shares of CPRT opened at $59.23 on Wednesday. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38. The firm has a market capitalization of $57.07 billion, a price-to-earnings ratio of 41.71 and a beta of 1.33. The firm’s 50-day moving average price is $58.46 and its 200-day moving average price is $55.29.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.37. Copart had a return on equity of 18.96% and a net margin of 31.92%. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the business earned $0.34 EPS. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, research analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Chairman A Jayson Adair sold 251,423 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the sale, the chairman now owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. The trade was a 1.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Diane M. Morefield sold 30,000 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the completion of the transaction, the director now owns 20,000 shares of the company’s stock, valued at approximately $1,160,200. The trade was a 60.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 650,213 shares of company stock valued at $39,199,813 over the last ninety days. Company insiders own 9.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. upped their target price on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th.

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.