Copart, Inc. (NASDAQ:CPRT) Stake Raised by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC increased its holdings in Copart, Inc. (NASDAQ:CPRT) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 509,913 shares of the business services provider’s stock after acquiring an additional 12,770 shares during the period. Kovitz Investment Group Partners LLC owned about 0.05% of Copart worth $25,985,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Jensen Investment Management Inc. increased its position in Copart by 2,466.0% in the 3rd quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock worth $185,299,000 after purchasing an additional 3,398,423 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Copart by 462.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock worth $192,240,000 after purchasing an additional 3,016,795 shares during the last quarter. Comgest Global Investors S.A.S. increased its position in Copart by 706.6% in the 3rd 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 purchasing an additional 1,390,146 shares during the last quarter. Kimelman & Baird LLC acquired a new position in Copart in the 2nd quarter worth about $70,307,000. Finally, Bank of New York Mellon Corp increased its position in Copart by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider’s stock worth $867,017,000 after purchasing an additional 1,199,781 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Price Performance

CPRT stock opened at $61.91 on Friday. The stock has a market capitalization of $59.65 billion, a price-to-earnings ratio of 43.60 and a beta of 1.31. The company has a 50-day moving average of $55.87 and a two-hundred day moving average of $53.72. Copart, Inc. has a 52-week low of $46.21 and a 52-week high of $64.38.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, meeting the consensus estimate of $0.37. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.34 EPS. Equities analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Transactions at Copart

In related news, Chairman A Jayson Adair sold 251,423 shares of the stock in a transaction dated 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 completion of the sale, the chairman now owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. This trade represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.68% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on CPRT shares. JPMorgan Chase & Co. increased their price objective on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Robert W. Baird lowered their price target on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th.

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.