Jensen Investment Management Inc. Sells 52,038 Shares of Copart, Inc. $CPRT

Jensen Investment Management Inc. reduced its position in shares of Copart, Inc. (NASDAQ:CPRT) by 1.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,263,823 shares of the business services provider’s stock after selling 52,038 shares during the quarter. Copart accounts for 2.9% of Jensen Investment Management Inc.’s investment portfolio, making the stock its 17th biggest holding. Jensen Investment Management Inc.’s holdings in Copart were worth $236,714,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new stake in shares of Copart during the third quarter worth approximately $25,000. Tripletail Wealth Management LLC bought a new position in Copart in the 3rd quarter valued at approximately $27,000. LRI Investments LLC raised its position in Copart by 125.2% in the third quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 363 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in shares of Copart during the second quarter valued at $31,000. Finally, Creekmur Asset Management LLC increased its stake in shares of Copart by 1,063.0% in the second quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock valued at $31,000 after buying an additional 574 shares during the period. 85.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. CJS Securities upgraded Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Robert W. Baird decreased their target price on Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday, November 21st. JPMorgan Chase & Co. lowered their target price on Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday, November 24th. Finally, Barclays reiterated an “underweight” rating and issued a $33.00 price target (up from $32.00) on shares of Copart in a research report on Friday, November 21st. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $47.60.

Insider Transactions at Copart

In related news, Director Thomas N. Tryforos sold 100,000 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total value of $3,907,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey Liaw sold 25,137 shares of Copart stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $40.17, for a total value of $1,009,753.29. Following the transaction, the chief executive officer owned 55,970 shares of the company’s stock, valued at $2,248,314.90. The trade was a 30.99% decrease in their position. The SEC filing for this sale provides additional information. 9.60% of the stock is owned by corporate insiders.

Copart Stock Performance

NASDAQ:CPRT opened at $40.35 on Wednesday. Copart, Inc. has a fifty-two week low of $37.41 and a fifty-two week high of $63.85. The firm has a market cap of $39.06 billion, a PE ratio of 24.60 and a beta of 1.08. The business has a 50 day moving average price of $39.63 and a 200-day moving average price of $43.01.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, November 20th. The business services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. Copart had a return on equity of 17.78% and a net margin of 34.24%.The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter last year, the business posted $0.37 EPS. The business’s revenue was up .7% on a year-over-year basis. Research analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Copart Company Profile

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.