Jensen Investment Management Inc. Sells 29,639 Shares of Copart, Inc. (NASDAQ:CPRT)

Jensen Investment Management Inc. decreased its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,506,594 shares of the business services provider’s stock after selling 29,639 shares during the period. Copart accounts for 1.8% of Jensen Investment Management Inc.’s portfolio, making the stock its 21st largest position. Jensen Investment Management Inc. owned approximately 0.36% of Copart worth $201,243,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CPRT. Principal Financial Group Inc. grew its holdings in shares of Copart by 2.5% during the third quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock valued at $2,037,130,000 after buying an additional 941,858 shares during the last quarter. State Street Corp grew its holdings in shares of Copart by 0.4% during the third quarter. State Street Corp now owns 34,157,967 shares of the business services provider’s stock valued at $1,789,877,000 after buying an additional 120,939 shares during the last quarter. Edgewood Management LLC grew its holdings in shares of Copart by 0.6% during the third quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider’s stock valued at $1,077,119,000 after buying an additional 125,220 shares during the last quarter. 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 valued at $1,115,664,000 after buying an additional 3,667,534 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Copart by 1.6% during the third quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider’s stock valued at $979,547,000 after buying an additional 291,580 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Copart Price Performance

Shares of Copart stock opened at $52.65 on Monday. The company’s fifty day simple moving average is $56.71 and its 200-day simple moving average is $56.01. The stock has a market capitalization of $50.86 billion, a PE ratio of 35.34 and a beta of 1.30. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. As a group, research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Argus cut shares of Copart from a “buy” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. raised their target price on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th.

Insider Transactions at Copart

In other news, Director Matt Blunt sold 50,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total transaction of $2,883,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Diane M. Morefield sold 30,000 shares of Copart stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the completion of the sale, the director now owns 20,000 shares in the company, 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 have sold 315,480 shares of company stock worth $18,007,983 in the last 90 days. 9.68% of the stock is currently owned by insiders.

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.