Copart, Inc. (NASDAQ:CPRT) Holdings Trimmed by Desjardins Global Asset Management Inc.

Desjardins Global Asset Management Inc. lowered its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 6.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 7,008 shares of the business services provider’s stock after selling 445 shares during the period. Desjardins Global Asset Management Inc.’s holdings in Copart were worth $343,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CPRT. Quarry LP acquired a new stake in shares of Copart in the 1st quarter valued at $29,000. Cornerstone Planning Group LLC acquired a new stake in shares of Copart in the 2nd quarter valued at $38,000. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Copart in the 2nd quarter valued at $38,000. Hollencrest Capital Management lifted its stake in shares of Copart by 92.1% in the 1st quarter. Hollencrest Capital Management now owns 438 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 210 shares during the last quarter. Finally, First Capital Advisors Group LLC. acquired a new stake in shares of Copart in the 2nd quarter valued at $50,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Activity at Copart

In related news, Chairman A Jayson Adair sold 600,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value of $34,662,000.00. Following the sale, the chairman now owns 19,687,980 shares of the company’s stock, valued at $1,137,374,604.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Copart news, Chairman A Jayson Adair sold 600,000 shares of the company’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 sale, the chairman now directly owns 19,687,980 shares of the company’s stock, valued at $1,137,374,604.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas N. Tryforos sold 285,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the sale, the director now directly owns 35,000 shares in the company, valued at $1,934,450. The disclosure for this sale can be found here. Insiders have sold a total of 985,000 shares of company stock valued at $55,519,950 over the last quarter. 10.23% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. 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 research report on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Copart has an average rating of “Hold” and an average target price of $51.00.

Copart Price Performance

Copart stock opened at $53.20 on Friday. The firm has a market cap of $51.15 billion, a price-to-earnings ratio of 38.27 and a beta of 1.22. Copart, Inc. has a fifty-two week low of $38.35 and a fifty-two week high of $58.58. The firm has a fifty day moving average price of $54.31 and a two-hundred day moving average price of $49.98.

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

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.