Copart, Inc. (NASDAQ:CPRT) Shares Sold by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC cut its stake in Copart, Inc. (NASDAQ:CPRT) by 0.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 425,417 shares of the business services provider’s stock after selling 658 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Copart were worth $24,415,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CPRT. Principal Financial Group Inc. grew its position in shares of Copart by 2.5% during the 3rd 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. State Street Corp raised its holdings in Copart by 0.4% in the 3rd quarter. State Street Corp now owns 34,157,967 shares of the business services provider’s stock worth $1,789,877,000 after purchasing an additional 120,939 shares during the period. Edgewood Management LLC boosted its position in Copart by 0.6% during 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 in the last quarter. Geode Capital Management LLC grew its holdings in Copart by 1.6% in 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 purchasing an additional 291,580 shares during the period. Finally, Legal & General Group Plc increased its position in shares of Copart by 9.4% in the second quarter. Legal & General Group Plc now owns 6,943,042 shares of the business services provider’s stock valued at $376,035,000 after buying an additional 598,566 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Price Performance

Shares of NASDAQ CPRT opened at $56.40 on Friday. The firm has a market cap of $54.34 billion, a price-to-earnings ratio of 39.72 and a beta of 1.33. The company’s 50-day simple moving average is $59.05 and its 200-day simple moving average is $54.68. Copart, Inc. has a 52-week low of $47.31 and a 52-week high of $64.38.

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

Insider Transactions at Copart

In other Copart news, Chairman A Jayson Adair sold 251,423 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total value of $16,038,273.17. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thomas N. Tryforos sold 83,310 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $61.86, for a total transaction of $5,153,556.60. Following the sale, the director now directly owns 7,850 shares of the company’s stock, valued at $485,601. The trade was a 91.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 650,213 shares of company stock valued at $39,199,813 over the last ninety days. Insiders own 9.68% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.