Wasatch Advisors LP Decreases Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Wasatch Advisors LP decreased its position in Copart, Inc. (NASDAQ:CPRT) by 2.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,877 shares of the business services provider’s stock after selling 788 shares during the quarter. Wasatch Advisors LP’s holdings in Copart were worth $1,723,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CPRT. Jensen Investment Management Inc. increased its position in shares of Copart by 2,466.0% during 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 buying an additional 3,398,423 shares during the period. Assenagon Asset Management S.A. increased its position in shares of 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 valued at $192,240,000 after buying an additional 3,016,795 shares during the period. Manning & Napier Advisors LLC purchased a new position in shares of Copart during the second quarter valued at about $109,382,000. Comgest Global Investors S.A.S. increased its position in shares of Copart by 706.6% during 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 during the period. Finally, Kimelman & Baird LLC purchased a new position in shares of Copart during the second quarter valued at about $70,307,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CPRT. 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. Robert W. Baird dropped their price objective on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th.

Insider Transactions at Copart

In other news, Chairman A Jayson Adair sold 251,423 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were 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 in the company, valued at approximately $920,907,971.03. This represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 9.68% of the company’s stock.

Copart Price Performance

NASDAQ:CPRT opened at $63.39 on Monday. Copart, Inc. has a one year low of $46.21 and a one year high of $64.38. The company’s 50-day simple moving average is $55.06 and its 200 day simple moving average is $53.50. The firm 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 posted its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). Copart had a return on equity of 18.96% and a net margin of 31.92%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the firm earned $0.34 EPS. The company’s revenue was up 7.2% on a year-over-year basis. On average, equities research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

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.