USS Investment Management Ltd Cuts Stock Position in Copart, Inc. (NASDAQ:CPRT)

USS Investment Management Ltd cut its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 13.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 171,853 shares of the business services provider’s stock after selling 27,158 shares during the quarter. USS Investment Management Ltd’s holdings in Copart were worth $9,864,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CPRT. Sandy Spring Bank lifted its holdings in shares of Copart by 59.5% in the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock valued at $27,000 after buying an additional 176 shares during the period. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Copart in the fourth quarter valued at $45,000. Curio Wealth LLC acquired a new stake in Copart in the fourth quarter valued at $52,000. Itau Unibanco Holding S.A. boosted its position in shares of Copart by 340.4% during the 4th quarter. Itau Unibanco Holding S.A. now owns 916 shares of the business services provider’s stock worth $53,000 after purchasing an additional 708 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in shares of Copart during the 4th quarter worth $73,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Copart

In related news, Director James E. Meeks sold 100,000 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven D. Cohan sold 5,003 shares of the stock in a transaction on Friday, April 11th. The shares were sold at an average price of $60.01, for a total value of $300,230.03. The disclosure for this sale can be found here. In the last three months, insiders sold 200,000 shares of company stock worth $11,401,000. 9.68% of the stock is owned by corporate insiders.

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.

Copart Price Performance

CPRT opened at $61.09 on Thursday. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38. The stock has a market cap of $59.02 billion, a P/E ratio of 41.00 and a beta of 1.20. The stock’s 50 day simple moving average is $58.75 and its 200 day simple moving average is $58.18.

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