Torray Investment Partners LLC Acquires 1,442 Shares of Copart, Inc. (NASDAQ:CPRT)

Torray Investment Partners LLC boosted its holdings in Copart, Inc. (NASDAQ:CPRT) by 1.0% during the fourth quarter, Holdings Channel reports. The fund owned 143,486 shares of the business services provider’s stock after purchasing an additional 1,442 shares during the period. Torray Investment Partners LLC’s holdings in Copart were worth $8,235,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CPRT. Principal Financial Group Inc. raised 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 purchasing 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 valued at $1,789,877,000 after acquiring an additional 120,939 shares during the period. Edgewood Management LLC lifted 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 acquiring an additional 125,220 shares during the last quarter. Bank of New York Mellon Corp lifted its position 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 acquiring an additional 3,667,534 shares during the last quarter. Finally, Geode Capital Management LLC boosted 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 worth $979,547,000 after acquiring an additional 291,580 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Buying and Selling

In other Copart news, Director Matt Blunt sold 50,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total value of $2,883,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. Insiders have sold 398,790 shares of company stock valued at $23,161,540 over the last 90 days. 9.68% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

Copart Stock Performance

Shares of Copart stock opened at $54.65 on Tuesday. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The stock has a market cap of $52.66 billion, a PE ratio of 36.68 and a beta of 1.33. The firm has a 50-day moving average of $57.55 and a 200-day moving average of $55.94.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. Copart had a net margin of 32.27% and a return on equity of 19.31%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Equities research analysts predict that Copart, Inc. will post 1.57 earnings per share 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.