Copart, Inc. (NASDAQ:CPRT) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its holdings in Copart, Inc. (NASDAQ:CPRT) by 12.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jensen Investment Management Inc. lifted its holdings in Copart by 2,466.0% in 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 period. Assenagon Asset Management S.A. boosted its holdings in Copart by 462.8% during the third quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock worth $192,240,000 after buying an additional 3,016,795 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in Copart during the second quarter worth about $109,382,000. Comgest Global Investors S.A.S. increased its holdings in Copart by 706.6% in the third quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock valued at $83,153,000 after buying an additional 1,390,146 shares in the last quarter. Finally, Kimelman & Baird LLC acquired a new stake in shares of Copart during the 2nd quarter valued at approximately $70,307,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CPRT shares. Robert W. Baird lowered their price target on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. 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.

Insider Buying and Selling at Copart

In other Copart news, Chairman A Jayson Adair sold 251,423 shares of the business’s stock in a transaction 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 completion of the transaction, the chairman now directly 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 legal filing with the SEC, which is accessible through this link. 9.68% of the stock is owned by insiders.

Copart Price Performance

Shares of Copart stock opened at $63.39 on Monday. Copart, Inc. has a 1 year low of $46.21 and a 1 year high of $64.38. The business has a 50 day moving average price of $55.06 and a 200 day moving average price of $53.50. The company has a market capitalization of $61.08 billion, a P/E ratio of 44.64 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 (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.34 earnings per share. As a group, research analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

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.