Brown Brothers Harriman & Co. Decreases Position in Copart, Inc. (NASDAQ:CPRT)

Brown Brothers Harriman & Co. reduced its position in shares of Copart, Inc. (NASDAQ:CPRT) by 13.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 532,083 shares of the business services provider’s stock after selling 80,932 shares during the period. Brown Brothers Harriman & Co. owned 0.06% of Copart worth $30,536,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Copart by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 102,129,032 shares of the business services provider’s stock worth $5,861,185,000 after purchasing an additional 976,909 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of 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 worth $2,037,130,000 after buying an additional 941,858 shares in the last quarter. State Street Corp raised its position in shares of Copart by 0.4% in the third quarter. State Street Corp now owns 34,157,967 shares of the business services provider’s stock valued at $1,789,877,000 after buying an additional 120,939 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Copart by 23.3% in the fourth quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider’s stock worth $1,115,664,000 after buying an additional 3,667,534 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position 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 acquiring an additional 291,580 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Down 0.9 %

Shares of CPRT opened at $55.15 on Friday. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The stock has a fifty day simple moving average of $56.33 and a two-hundred day simple moving average of $56.14. The company has a market capitalization of $53.28 billion, a PE ratio of 37.01 and a beta of 1.30.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.02. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. As a group, equities analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Argus downgraded shares of Copart from a “buy” rating to a “hold” rating in a report on Friday, March 14th.

Insider Activity at Copart

In other news, Director Daniel J. Englander sold 235,480 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matt Blunt sold 50,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total value of $2,883,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 385,480 shares of company stock worth $21,667,683. Insiders own 9.68% of the company’s stock.

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.