Great West Life Assurance Co. Can lowered its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 7.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 111,520 shares of the business services provider’s stock after selling 8,963 shares during the quarter. Great West Life Assurance Co. Can’s holdings in Copart were worth $5,054,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the business. Creative Planning raised its holdings in Copart by 1.0% during the fourth quarter. Creative Planning now owns 21,403 shares of the business services provider’s stock worth $1,023,000 after purchasing an additional 211 shares in the last quarter. TD Asset Management Inc. raised its holdings in Copart by 0.5% during the fourth quarter. TD Asset Management Inc. now owns 60,108 shares of the business services provider’s stock worth $2,872,000 after purchasing an additional 294 shares in the last quarter. ETF Managers Group LLC raised its holdings in Copart by 15.8% during the fourth quarter. ETF Managers Group LLC now owns 2,535 shares of the business services provider’s stock worth $121,000 after purchasing an additional 345 shares in the last quarter. Stephens Inc. AR raised its holdings in Copart by 2.7% during the fourth quarter. Stephens Inc. AR now owns 15,330 shares of the business services provider’s stock worth $732,000 after purchasing an additional 403 shares in the last quarter. Finally, Keybank National Association OH raised its holdings in Copart by 2.7% during the fourth quarter. Keybank National Association OH now owns 17,604 shares of the business services provider’s stock worth $841,000 after purchasing an additional 465 shares in the last quarter. 81.85% of the stock is currently owned by institutional investors.
In related news, EVP William E. Franklin sold 140,000 shares of Copart stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $58.44, for a total value of $8,181,600.00. Following the transaction, the executive vice president now directly owns 157,967 shares in the company, valued at approximately $9,231,591.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel J. Englander sold 80,000 shares of Copart stock in a transaction on Tuesday, January 15th. The shares were sold at an average price of $49.53, for a total transaction of $3,962,400.00. Following the completion of the transaction, the director now owns 555,128 shares in the company, valued at $27,495,489.84. The disclosure for this sale can be found here. Company insiders own 15.99% of the company’s stock.
Shares of CPRT opened at $59.03 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.61 and a current ratio of 1.69. The company has a market cap of $13.47 billion, a PE ratio of 34.12, a price-to-earnings-growth ratio of 1.38 and a beta of 0.95. Copart, Inc. has a 12-month low of $44.61 and a 12-month high of $67.08.
Copart (NASDAQ:CPRT) last announced its earnings results on Wednesday, February 20th. The business services provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $484.90 million for the quarter, compared to analyst estimates of $488.54 million. Copart had a net margin of 25.75% and a return on equity of 30.20%. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the firm posted $0.47 earnings per share. Analysts anticipate that Copart, Inc. will post 2.15 earnings per share for the current year.
A number of analysts have weighed in on CPRT shares. Barrington Research reissued a “hold” rating on shares of Copart in a report on Wednesday, November 21st. Zacks Investment Research raised shares of Copart from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Monday, February 4th. ValuEngine cut shares of Copart from a “buy” rating to a “hold” rating in a report on Sunday, March 3rd. SunTrust Banks set a $63.00 price objective on shares of Copart and gave the stock a “buy” rating in a report on Friday, November 23rd. Finally, BidaskClub raised shares of Copart from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Copart has an average rating of “Buy” and an average price target of $59.25.
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.
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