TimesSquare Capital Management LLC Acquires 195,650 Shares of Copart, Inc. (NASDAQ:CPRT)

TimesSquare Capital Management LLC boosted its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 44.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 632,911 shares of the business services provider’s stock after purchasing an additional 195,650 shares during the period. TimesSquare Capital Management LLC’s holdings in Copart were worth $36,323,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPRT. Jensen Investment Management Inc. raised its position in Copart by 2,466.0% during the third quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock valued at $185,299,000 after acquiring an additional 3,398,423 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Copart by 462.8% in the third quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock valued at $192,240,000 after purchasing an additional 3,016,795 shares during the period. Franklin Resources Inc. raised its position in shares of Copart by 335.8% in the third quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock valued at $149,471,000 after purchasing an additional 2,084,626 shares during the period. Comgest Global Investors S.A.S. raised its position in shares of Copart by 706.6% in the third quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock valued at $83,153,000 after purchasing an additional 1,390,146 shares during the period. Finally, PineStone Asset Management Inc. raised its position in shares of Copart by 192.4% in the fourth quarter. PineStone Asset Management Inc. now owns 1,585,400 shares of the business services provider’s stock valued at $90,986,000 after purchasing an additional 1,043,200 shares during the period. Institutional investors own 85.78% of the company’s stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other Copart news, Director Diane M. Morefield sold 30,000 shares of Copart stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the sale, the director now owns 20,000 shares in the company, valued at $1,160,200. The trade was a 60.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas N. Tryforos sold 83,310 shares of Copart stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $61.86, for a total transaction of $5,153,556.60. Following the sale, the director now owns 7,850 shares in the company, valued at $485,601. This represents a 91.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 650,213 shares of company stock worth $39,199,813 over the last 90 days. Corporate insiders own 9.68% of the company’s stock.

Copart Trading Up 0.3 %

Shares of Copart stock opened at $59.59 on Wednesday. The company’s fifty day simple moving average is $58.20 and its 200-day simple moving average is $55.56. The company has a market cap of $57.42 billion, a price-to-earnings ratio of 41.96 and a beta of 1.33. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.10 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. Copart’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the company posted $0.34 earnings per share. As a group, research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

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.