Rhumbline Advisers Cuts Position in Copart, Inc. (CPRT)

Rhumbline Advisers reduced its stake in Copart, Inc. (NASDAQ:CPRT) by 1.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 398,449 shares of the business services provider’s stock after selling 4,972 shares during the quarter. Rhumbline Advisers owned 0.17% of Copart worth $19,038,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc increased its stake in Copart by 3.8% in the 3rd quarter. Vanguard Group Inc now owns 21,828,682 shares of the business services provider’s stock valued at $1,124,833,000 after buying an additional 795,115 shares during the last quarter. BlackRock Inc. increased its stake in Copart by 7.7% in the 3rd quarter. BlackRock Inc. now owns 14,359,271 shares of the business services provider’s stock valued at $739,932,000 after buying an additional 1,029,566 shares during the last quarter. FMR LLC increased its stake in Copart by 18.9% in the 3rd quarter. FMR LLC now owns 7,800,473 shares of the business services provider’s stock valued at $401,959,000 after buying an additional 1,237,941 shares during the last quarter. Morgan Stanley increased its stake in Copart by 16.8% in the 3rd quarter. Morgan Stanley now owns 5,012,496 shares of the business services provider’s stock valued at $258,293,000 after buying an additional 719,694 shares during the last quarter. Finally, Clearbridge Investments LLC increased its stake in Copart by 5.2% in the 3rd quarter. Clearbridge Investments LLC now owns 3,948,140 shares of the business services provider’s stock valued at $203,448,000 after buying an additional 193,739 shares during the last quarter. 80.52% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Daniel J. Englander sold 80,000 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 555,128 shares in the company, valued at approximately $27,495,489.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.99% of the stock is owned by insiders.

Several equities research analysts have issued reports on the stock. BidaskClub upgraded shares of Copart from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Zacks Investment Research upgraded shares of Copart from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Monday, February 4th. Barrington Research reiterated a “hold” rating on shares of Copart in a research note on Wednesday, November 21st. Finally, SunTrust Banks set a $63.00 price target on shares of Copart and gave the company a “buy” rating in a research note on Friday, November 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Copart currently has an average rating of “Buy” and an average price target of $54.33.

Copart stock opened at $51.73 on Monday. The stock has a market cap of $12.11 billion, a PE ratio of 29.90, a PEG ratio of 1.06 and a beta of 0.91. Copart, Inc. has a fifty-two week low of $40.29 and a fifty-two week high of $67.08. The company has a current ratio of 3.00, a quick ratio of 2.92 and a debt-to-equity ratio of 0.24.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Tuesday, November 20th. The business services provider reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. The company had revenue of $461.40 million for the quarter, compared to analyst estimates of $460.09 million. Copart had a net margin of 24.59% and a return on equity of 29.95%. Copart’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 EPS. Research analysts expect that Copart, Inc. will post 2.12 EPS for the current fiscal year.

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About Copart

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.

See Also: Earnings Per Share (EPS) Explained

Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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