Canada Pension Plan Investment Board Raises Stock Position in Copart, Inc. (NASDAQ:CPRT)

Canada Pension Plan Investment Board raised its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 8.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 442,564 shares of the business services provider’s stock after purchasing an additional 35,056 shares during the period. Canada Pension Plan Investment Board’s holdings in Copart were worth $25,399,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Principal Financial Group Inc. lifted its position in shares of Copart by 2.5% in the third quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock valued at $2,037,130,000 after acquiring an additional 941,858 shares in the last quarter. Barclays PLC raised its position in shares of Copart by 0.4% in the third quarter. Barclays PLC now owns 6,042,734 shares of the business services provider’s stock valued at $316,639,000 after buying an additional 21,710 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Copart during the third quarter worth about $317,000. Tidal Investments LLC raised its holdings in Copart by 7.8% in the 3rd quarter. Tidal Investments LLC now owns 88,324 shares of the business services provider’s stock valued at $4,628,000 after acquiring an additional 6,421 shares during the last quarter. Finally, Peapack Gladstone Financial Corp lifted its stake in Copart by 6.5% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 104,650 shares of the business services provider’s stock worth $5,484,000 after purchasing an additional 6,385 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analyst Ratings Changes

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

Insider Activity at Copart

In related news, Director Steven D. Cohan sold 5,003 shares of the stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $60.01, for a total transaction of $300,230.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James E. Meeks sold 100,000 shares of the company’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total value of $5,400,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 200,000 shares of company stock worth $11,401,000. Company insiders own 9.68% of the company’s stock.

Copart Trading Up 0.4 %

Copart stock opened at $59.68 on Friday. The company has a 50-day moving average price of $56.22 and a 200 day moving average price of $56.90. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38. The stock has a market cap of $57.66 billion, a P/E ratio of 40.05 and a beta of 1.22.

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

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.