Donaldson Capital Management LLC Raises Stake in Copart, Inc. (NASDAQ:CPRT)

Donaldson Capital Management LLC lifted its position in shares of Copart, Inc. (NASDAQ:CPRT) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 89,678 shares of the business services provider’s stock after buying an additional 472 shares during the quarter. Donaldson Capital Management LLC’s holdings in Copart were worth $5,147,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CPRT. Bank of New York Mellon Corp grew its holdings in shares of Copart by 23.3% during the fourth quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider’s stock worth $1,115,664,000 after buying an additional 3,667,534 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Copart by 335.8% during the third quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock worth $149,471,000 after buying an additional 2,084,626 shares in the last quarter. Comgest Global Investors S.A.S. grew its holdings 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 worth $83,153,000 after buying an additional 1,390,146 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Copart during the fourth quarter worth about $69,162,000. Finally, Amundi grew its holdings in shares of Copart by 18.2% during the fourth quarter. Amundi now owns 7,080,834 shares of the business services provider’s stock worth $402,332,000 after buying an additional 1,090,841 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Performance

Copart stock opened at $52.82 on Tuesday. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The firm has a 50 day moving average price of $57.05 and a 200 day moving average price of $56.01. The company has a market cap of $51.03 billion, a price-to-earnings ratio of 35.45 and a beta of 1.30.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. Copart had a net margin of 32.27% and a return on equity of 19.31%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Sell-side analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Insiders Place Their Bets

In other Copart news, Director Daniel J. Englander sold 235,480 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $56.84, for a total transaction of $13,384,683.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Diane M. Morefield sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the sale, the director now owns 20,000 shares of the company’s stock, valued at approximately $1,160,200. This represents a 60.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 315,480 shares of company stock worth $18,007,983 over the last ninety days. 9.68% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. boosted their target price on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th.

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.