First Trust Advisors LP Reduces Position in Copart, Inc. (CPRT)

First Trust Advisors LP reduced its position in shares of Copart, Inc. (NASDAQ:CPRT) by 71.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 206,171 shares of the business services provider’s stock after selling 516,676 shares during the quarter. First Trust Advisors LP owned about 0.09% of Copart worth $7,086,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd acquired a new position in Copart during the 2nd quarter worth approximately $485,000. OMERS ADMINISTRATION Corp bought a new stake in Copart during the 2nd quarter worth approximately $1,418,000. Principal Financial Group Inc. increased its holdings in Copart by 106.5% during the 2nd quarter. Principal Financial Group Inc. now owns 7,417,734 shares of the business services provider’s stock worth $235,810,000 after purchasing an additional 3,826,242 shares in the last quarter. Capital Fund Management S.A. bought a new stake in Copart during the 2nd quarter worth approximately $4,179,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its holdings in Copart by 127.4% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,556,532 shares of the business services provider’s stock worth $208,433,000 after purchasing an additional 3,672,956 shares in the last quarter. 78.71% of the stock is currently owned by institutional investors and hedge funds.

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In other news, President Vincent W. Mitz sold 200,000 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $34.32, for a total value of $6,864,000.00. Following the completion of the transaction, the president now directly owns 47,660 shares of the company’s stock, valued at $1,635,691.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director James E. Meeks sold 160,000 shares of the company’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $34.33, for a total value of $5,492,800.00. Following the completion of the transaction, the director now directly owns 3,500 shares of the company’s stock, valued at $120,155. The disclosure for this sale can be found here. Corporate insiders own 16.40% of the company’s stock.

Copart, Inc. (NASDAQ CPRT) opened at $35.88 on Tuesday. The stock has a market capitalization of $8,286.83, a P/E ratio of 27.68, a PEG ratio of 1.33 and a beta of 1.24. The company has a quick ratio of 1.91, a current ratio of 1.94 and a debt-to-equity ratio of 0.50. Copart, Inc. has a twelve month low of $26.48 and a twelve month high of $36.76.

Copart (NASDAQ:CPRT) last released its earnings results on Tuesday, September 19th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.04. The company had revenue of $378.60 million during the quarter, compared to analyst estimates of $355.42 million. Copart had a return on equity of 31.83% and a net margin of 27.23%. Copart’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.31 earnings per share. analysts anticipate that Copart, Inc. will post 1.41 EPS for the current year.

A number of analysts have commented on the company. Wolfe Research assumed coverage on Copart in a report on Tuesday, November 7th. They set a “market perform” rating for the company. CJS Securities reissued an “outperform” rating and set a $42.00 price objective on shares of Copart in a report on Thursday, October 5th. Robert W. Baird boosted their price objective on Copart from $33.00 to $37.00 and gave the stock an “outperform” rating in a report on Thursday, September 21st. Finally, Zacks Investment Research lowered Copart from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $37.33.

Copart Company Profile

Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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