Quarry LP Acquires Shares of 561 Copart, Inc. (NASDAQ:CPRT)

Quarry LP bought a new position in Copart, Inc. (NASDAQ:CPRT) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 561 shares of the business services provider’s stock, valued at approximately $29,000.

Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. increased its position in shares of Copart by 2.5% in 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 acquiring an additional 941,858 shares during the period. Edgewood Management LLC grew its stake in shares of Copart by 0.6% in the third quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider’s stock worth $1,077,119,000 after purchasing an additional 125,220 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Copart by 8.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider’s stock valued at $867,017,000 after purchasing an additional 1,199,781 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Copart by 0.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,898,956 shares of the business services provider’s stock worth $427,807,000 after buying an additional 30,454 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Copart by 9.4% in the 2nd quarter. Legal & General Group Plc now owns 6,943,042 shares of the business services provider’s stock worth $376,035,000 after buying an additional 598,566 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Copart news, Chairman A Jayson Adair sold 251,423 shares of Copart 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 completion of the sale, the chairman now owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. The trade was a 1.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Thomas N. Tryforos sold 83,310 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $61.86, for a total transaction of $5,153,556.60. Following the sale, the director now owns 7,850 shares of the company’s stock, valued at approximately $485,601. This represents a 91.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.68% of the company’s stock.

Wall Street Analyst Weigh In

CPRT has been the subject of a number of research analyst reports. Robert W. Baird dropped their price target on Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th. 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 research report on Tuesday, November 19th.

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $62.08 on Friday. The stock has a 50 day moving average price of $56.84 and a 200-day moving average price of $53.98. The firm has a market capitalization of $59.82 billion, a P/E ratio of 43.72 and a beta of 1.31. Copart, Inc. has a 52-week low of $46.21 and a 52-week high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, hitting analysts’ consensus estimates of $0.37. Copart had a return on equity of 18.96% and a net margin of 31.92%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.10 billion. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.34 EPS. On average, equities analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

About Copart

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.