iA Global Asset Management Inc. Has $5.96 Million Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

iA Global Asset Management Inc. decreased its stake in Copart, Inc. (NASDAQ:CPRT) by 1.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 103,854 shares of the business services provider’s stock after selling 1,812 shares during the period. iA Global Asset Management Inc.’s holdings in Copart were worth $5,960,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in CPRT. Madison Investment Advisors LLC acquired a new stake in Copart during the fourth quarter worth approximately $253,686,000. Bank of New York Mellon Corp grew its stake in 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 purchasing an additional 3,667,534 shares during the period. Franklin Resources Inc. grew its stake in 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 purchasing an additional 2,084,626 shares during the period. Raymond James Financial Inc. acquired a new stake in Copart during the fourth quarter worth approximately $69,162,000. Finally, Amundi grew its stake in 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 purchasing an additional 1,090,841 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Argus cut Copart from a “buy” rating to a “hold” rating in a research note on Friday, March 14th.

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $53.85 on Friday. The business’s 50 day simple moving average is $56.47 and its two-hundred day simple moving average is $55.99. The firm has a market cap of $52.02 billion, a P/E ratio of 36.14 and a beta of 1.30. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) 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 analyst estimates of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. On average, equities analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Matt Blunt sold 50,000 shares of Copart stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total transaction of $2,883,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Diane M. Morefield sold 30,000 shares of Copart stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $58.01, for a total value of $1,740,300.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $1,160,200. The trade was a 60.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 315,480 shares of company stock worth $18,007,983. Corporate insiders own 9.68% of the company’s stock.

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.