Bank of New York Mellon Corp Raises Holdings in Copart, Inc. (NASDAQ:CPRT)

Bank of New York Mellon Corp boosted its position in Copart, Inc. (NASDAQ:CPRT) by 23.3% in the 4th quarter, HoldingsChannel reports. The firm owned 19,440,046 shares of the business services provider’s stock after purchasing an additional 3,667,534 shares during the period. Bank of New York Mellon Corp’s holdings in Copart were worth $1,115,664,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Private Advisor Group LLC boosted its position in Copart by 0.9% during the third quarter. Private Advisor Group LLC now owns 26,011 shares of the business services provider’s stock worth $1,363,000 after acquiring an additional 230 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Copart during the third quarter worth $4,330,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Copart by 25.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 252,058 shares of the business services provider’s stock worth $13,122,000 after purchasing an additional 50,563 shares during the last quarter. Forsta AP Fonden increased its stake in Copart by 10.7% in the third quarter. Forsta AP Fonden now owns 183,000 shares of the business services provider’s stock valued at $9,589,000 after purchasing an additional 17,700 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Copart by 74.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 71,541 shares of the business services provider’s stock worth $3,749,000 after buying an additional 30,492 shares during the period. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Copart

In other Copart news, Director Daniel J. Englander sold 235,480 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were 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 can be accessed through this link. Also, Director Diane M. Morefield sold 30,000 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the completion of the sale, the director now directly owns 20,000 shares of the company’s stock, valued at $1,160,200. The trade was a 60.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 398,790 shares of company stock worth $23,161,540 in the last three months. 9.68% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Copart Stock Up 0.3 %

NASDAQ:CPRT opened at $56.75 on Tuesday. The company has a market cap of $54.68 billion, a P/E ratio of 38.09 and a beta of 1.33. The firm’s 50 day moving average is $57.89 and its two-hundred day moving average is $55.78. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. Copart had a return on equity of 19.31% and a net margin of 32.27%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. Research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Copart Company 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.