Copart, Inc. (NASDAQ:CPRT) Shares Sold by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. reduced its position in shares of Copart, Inc. (NASDAQ:CPRT) by 0.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 141,743 shares of the business services provider’s stock after selling 1,101 shares during the period. Copart comprises about 1.7% of Contravisory Investment Management Inc.’s investment portfolio, making the stock its 28th biggest holding. Contravisory Investment Management Inc.’s holdings in Copart were worth $8,135,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. boosted its stake in Copart by 2.5% during 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 buying an additional 941,858 shares in the last quarter. State Street Corp raised its holdings in shares of 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 in the last quarter. Edgewood Management LLC lifted its stake 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 valued at $1,077,119,000 after purchasing an additional 125,220 shares during the last quarter. Geode Capital Management LLC boosted its holdings in 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 buying an additional 291,580 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings 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. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Trading Up 0.3 %

Copart stock opened at $56.40 on Thursday. The company has a market capitalization of $54.34 billion, a P/E ratio of 39.72 and a beta of 1.31. Copart, Inc. has a 1-year low of $47.31 and a 1-year high of $64.38. The firm’s fifty day simple moving average is $59.05 and its 200-day simple moving average is $54.68.

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, Chairman A Jayson Adair sold 251,423 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the completion of the sale, the chairman now owns 14,436,557 shares in the company, valued at $920,907,971.03. This represents a 1.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were 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. In the last ninety days, insiders sold 650,213 shares of company stock worth $39,199,813. 9.68% of the stock is currently owned by insiders.

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.