Meeder Asset Management Inc. Has $28,000 Position in Copart, Inc. (NASDAQ:CPRT)

Meeder Asset Management Inc. lessened its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 99.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 490 shares of the business services provider’s stock after selling 86,890 shares during the quarter. Meeder Asset Management Inc.’s holdings in Copart were worth $28,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Principal Financial Group Inc. increased its holdings in 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 last quarter. Public Sector Pension Investment Board increased its stake in shares of Copart by 12.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 39,340 shares of the business services provider’s stock valued at $2,061,000 after acquiring an additional 4,500 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Copart in the 3rd quarter valued at approximately $761,000. Benjamin Edwards Inc. boosted its stake in Copart by 3,878.0% during the 3rd quarter. Benjamin Edwards Inc. now owns 38,069 shares of the business services provider’s stock worth $1,995,000 after acquiring an additional 37,112 shares during the last quarter. Finally, Hilltop Holdings Inc. acquired a new position in Copart during the third quarter valued at approximately $716,000. Institutional investors own 85.78% of the company’s stock.

Copart Price Performance

NASDAQ CPRT opened at $57.47 on Thursday. Copart, Inc. has a one year low of $48.05 and a one year high of $64.38. The firm has a market cap of $55.52 billion, a P/E ratio of 38.57 and a beta of 1.30. The stock’s 50-day moving average is $56.31 and its 200-day moving average is $56.34.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share 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 for the quarter, compared to analyst estimates of $1.13 billion. Equities analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Insider Buying and Selling

In other Copart news, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James E. Meeks sold 100,000 shares of Copart stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total transaction of $5,400,000.00. The disclosure for this sale can be found here. Company insiders own 9.68% of the company’s stock.

Analysts Set New Price Targets

Separately, Argus lowered shares of Copart from a “buy” rating to a “hold” rating in a report on Friday, March 14th.

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.