Copart, Inc. (NASDAQ:CPRT) Shares Sold by PGGM Investments

PGGM Investments lowered its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 10.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 137,818 shares of the business services provider’s stock after selling 16,920 shares during the quarter. PGGM Investments’ holdings in Copart were worth $6,753,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CPRT. First Citizens Bank & Trust Co. boosted its position in Copart by 3.6% during the 4th quarter. First Citizens Bank & Trust Co. now owns 7,729 shares of the business services provider’s stock worth $379,000 after acquiring an additional 268 shares during the period. BSW Wealth Partners boosted its position in Copart by 4.1% during the 4th quarter. BSW Wealth Partners now owns 6,972 shares of the business services provider’s stock worth $342,000 after acquiring an additional 277 shares during the period. Manchester Capital Management LLC boosted its position in Copart by 101.0% during the 3rd quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider’s stock worth $27,000 after acquiring an additional 314 shares during the period. Bell Investment Advisors Inc boosted its position in Copart by 87.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider’s stock worth $30,000 after acquiring an additional 323 shares during the period. Finally, Annapolis Financial Services LLC boosted its position in Copart by 100.0% during the 3rd quarter. Annapolis Financial Services LLC now owns 720 shares of the business services provider’s stock worth $31,000 after acquiring an additional 360 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on CPRT. JPMorgan Chase & Co. boosted their price target on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. StockNews.com downgraded Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Copart has an average rating of “Hold” and an average target price of $51.00.

Insider Transactions at Copart

In other news, Director Matt Blunt sold 100,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $51.06, for a total transaction of $5,106,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Thomas N. Tryforos sold 285,000 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 35,000 shares of the company’s stock, valued at $1,934,450. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matt Blunt sold 100,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $51.06, for a total value of $5,106,000.00. The disclosure for this sale can be found here. Insiders have sold 985,000 shares of company stock valued at $55,519,950 over the last three months. Company insiders own 10.23% of the company’s stock.

Copart Price Performance

Shares of CPRT traded up $0.51 during midday trading on Friday, reaching $55.73. The stock had a trading volume of 2,554,100 shares, compared to its average volume of 3,758,305. Copart, Inc. has a 52 week low of $38.53 and a 52 week high of $58.58. The firm’s 50 day moving average price is $54.86 and its 200-day moving average price is $50.45. The company has a market capitalization of $53.58 billion, a P/E ratio of 40.09 and a beta of 1.22.

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