International Assets Investment Management LLC Makes New Investment in Copart, Inc. (NASDAQ:CPRT)

International Assets Investment Management LLC purchased a new position in Copart, Inc. (NASDAQ:CPRT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 67,032 shares of the business services provider’s stock, valued at approximately $3,285,000.

A number of other institutional investors also recently modified their holdings of the company. Asset Management One Co. Ltd. lifted its holdings in Copart by 26.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 443,816 shares of the business services provider’s stock valued at $21,707,000 after buying an additional 92,060 shares during the period. Arizona State Retirement System boosted its position in shares of Copart by 1.0% during the 4th quarter. Arizona State Retirement System now owns 236,808 shares of the business services provider’s stock valued at $11,604,000 after purchasing an additional 2,349 shares in the last quarter. GAM Holding AG acquired a new stake in Copart during the fourth quarter worth approximately $1,322,000. Ballentine Partners LLC increased its holdings in Copart by 2.7% in the fourth quarter. Ballentine Partners LLC now owns 27,941 shares of the business services provider’s stock worth $1,369,000 after purchasing an additional 725 shares in the last quarter. Finally, Trust Point Inc. acquired a new position in Copart in the fourth quarter valued at approximately $373,000. 85.78% of the stock is owned by institutional investors.

Copart Trading Down 0.7 %

NASDAQ CPRT opened at $54.02 on Thursday. The company has a market cap of $51.94 billion, a P/E ratio of 38.86 and a beta of 1.22. The company has a fifty day simple moving average of $54.26 and a 200 day simple moving average of $49.96. Copart, Inc. has a 12-month low of $38.35 and a 12-month high of $58.58.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. Copart had a net margin of 33.41% and a return on equity of 21.55%. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period last year, the business posted $0.31 earnings per share. Sell-side analysts predict that Copart, Inc. will post 1.42 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CPRT. JPMorgan Chase & Co. lifted their price objective on shares of Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. StockNews.com lowered shares of Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Copart presently has an average rating of “Hold” and a consensus price target of $51.00.

Insiders Place Their Bets

In other news, Director Matt Blunt sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $51.06, for a total value of $5,106,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Chairman A Jayson Adair sold 600,000 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the transaction, the chairman now directly owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Matt Blunt sold 100,000 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $51.06, for a total transaction of $5,106,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 985,000 shares of company stock valued at $55,519,950. Corporate insiders own 10.23% of the company’s stock.

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.