Artemis Investment Management LLP Sells 24,783 Shares of Copart, Inc. (NASDAQ:CPRT)

Artemis Investment Management LLP decreased its stake in Copart, Inc. (NASDAQ:CPRT) by 2.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 831,512 shares of the business services provider’s stock after selling 24,783 shares during the period. Artemis Investment Management LLP’s holdings in Copart were worth $47,720,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cadence Bank lifted its stake in shares of Copart by 0.6% during the 3rd quarter. Cadence Bank now owns 31,549 shares of the business services provider’s stock valued at $1,653,000 after buying an additional 178 shares in the last quarter. Everpar Advisors LLC lifted its position in shares of Copart by 4.3% during the fourth quarter. Everpar Advisors LLC now owns 4,811 shares of the business services provider’s stock worth $276,000 after acquiring an additional 199 shares in the last quarter. Duncan Williams Asset Management LLC boosted its holdings in shares of Copart by 1.3% in the third quarter. Duncan Williams Asset Management LLC now owns 15,437 shares of the business services provider’s stock worth $809,000 after acquiring an additional 203 shares during the period. Fifth Third Wealth Advisors LLC grew its position in shares of Copart by 2.3% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 9,226 shares of the business services provider’s stock valued at $529,000 after purchasing an additional 208 shares in the last quarter. Finally, Covestor Ltd raised its stake in shares of Copart by 5.1% during the 3rd quarter. Covestor Ltd now owns 4,299 shares of the business services provider’s stock valued at $225,000 after purchasing an additional 209 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. raised 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 Price Performance

CPRT opened at $56.90 on Friday. The firm has a market capitalization of $54.82 billion, a P/E ratio of 40.07 and a beta of 1.33. Copart, Inc. has a one year low of $47.51 and a one year high of $64.38. The company has a fifty day moving average price of $59.07 and a 200-day moving average price of $54.71.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. The business 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 firm’s revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.34 earnings per share. On average, analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Buying and Selling

In related news, 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 value of $1,740,300.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at $1,160,200. This represents a 60.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas N. Tryforos sold 83,310 shares of Copart stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $61.86, for a total value of $5,153,556.60. Following the sale, the director now directly owns 7,850 shares of the company’s stock, valued at approximately $485,601. This trade represents a 91.39 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 650,213 shares of company stock worth $39,199,813. Insiders own 9.68% of the company’s stock.

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.