Kensington Investment Counsel LLC Increases Stock Position in Copart, Inc. (NASDAQ:CPRT)

Kensington Investment Counsel LLC raised its position in shares of Copart, Inc. (NASDAQ:CPRT) by 0.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 60,993 shares of the business services provider’s stock after purchasing an additional 423 shares during the quarter. Copart accounts for about 1.5% of Kensington Investment Counsel LLC’s holdings, making the stock its 25th biggest holding. Kensington Investment Counsel LLC’s holdings in Copart were worth $3,500,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. William Blair Investment Management LLC boosted its position in Copart by 15.4% during the 4th quarter. William Blair Investment Management LLC now owns 6,671,424 shares of the business services provider’s stock valued at $382,873,000 after buying an additional 889,989 shares during the period. Curio Wealth LLC purchased a new stake in Copart during the 4th quarter valued at $52,000. Signaturefd LLC raised its holdings in Copart by 8.8% in the 4th quarter. Signaturefd LLC now owns 17,530 shares of the business services provider’s stock worth $1,006,000 after purchasing an additional 1,423 shares in the last quarter. Parallel Advisors LLC raised its holdings in Copart by 7.8% in the 4th quarter. Parallel Advisors LLC now owns 14,332 shares of the business services provider’s stock worth $823,000 after purchasing an additional 1,035 shares in the last quarter. Finally, Cibc World Markets Corp raised its holdings in Copart by 14.2% in the 4th quarter. Cibc World Markets Corp now owns 159,204 shares of the business services provider’s stock worth $9,137,000 after purchasing an additional 19,831 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CPRT. JPMorgan Chase & Co. upped their price objective on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th. Argus lowered shares of Copart from a “buy” rating to a “hold” rating in a report on Friday.

Copart Trading Up 2.1 %

Shares of NASDAQ CPRT opened at $53.75 on Tuesday. Copart, Inc. has a 12 month low of $48.05 and a 12 month high of $64.38. The firm has a market capitalization of $51.93 billion, a PE ratio of 36.07 and a beta of 1.30. The firm has a fifty day simple moving average of $56.65 and a two-hundred day simple moving average of $56.02.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.02. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. On average, sell-side analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Diane M. Morefield sold 30,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $58.01, for a total value of $1,740,300.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $1,160,200. This trade represents a 60.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel J. Englander sold 235,480 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. Insiders sold a total of 315,480 shares of company stock worth $18,007,983 in the last three months. 9.68% of the stock is owned by corporate insiders.

Copart 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.