BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Cuts Holdings in Copart, Inc. (NASDAQ:CPRT)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in Copart, Inc. (NASDAQ:CPRT) by 12.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 144,518 shares of the business services provider’s stock after selling 21,277 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Copart were worth $7,573,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Optimum Investment Advisors increased its holdings in Copart by 141.5% in the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after buying an additional 300 shares during the last quarter. Eastern Bank purchased a new position in shares of Copart in the 3rd quarter valued at about $29,000. Crewe Advisors LLC raised its position in shares of Copart by 98.6% during the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock worth $31,000 after acquiring an additional 280 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in Copart by 283.3% during the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock worth $31,000 after purchasing an additional 425 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Copart by 477.7% in the second quarter. Versant Capital Management Inc now owns 595 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 492 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Copart

In other news, Chairman A Jayson Adair sold 251,423 shares of the business’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 value 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. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 9.68% of the stock is currently owned by insiders.

Copart Trading Down 0.2 %

CPRT stock opened at $63.39 on Monday. The company has a market capitalization of $61.08 billion, a P/E ratio of 44.64 and a beta of 1.27. The business has a 50 day simple moving average of $55.06 and a 200-day simple moving average of $53.50. Copart, Inc. has a twelve month low of $46.21 and a twelve month high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.34 EPS. Research analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on CPRT shares. Robert W. Baird reduced their price objective on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. JPMorgan Chase & Co. boosted their price target on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research 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.