Bank of New York Mellon Corp Raises Stock Position in Copart, Inc. (NASDAQ:CPRT)

Bank of New York Mellon Corp grew its holdings in Copart, Inc. (NASDAQ:CPRT) by 23.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,440,046 shares of the business services provider’s stock after purchasing an additional 3,667,534 shares during the quarter. Bank of New York Mellon Corp owned 2.02% of Copart worth $1,115,664,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CPRT. Jensen Investment Management Inc. boosted its position in Copart by 2,466.0% in the 3rd quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock valued at $185,299,000 after buying an additional 3,398,423 shares during the period. Franklin Resources Inc. raised its stake in shares of Copart by 335.8% in the third quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock valued at $149,471,000 after acquiring an additional 2,084,626 shares in the last quarter. Comgest Global Investors S.A.S. boosted its holdings in Copart by 706.6% in the third quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock valued at $83,153,000 after purchasing an additional 1,390,146 shares during the period. PineStone Asset Management Inc. grew its stake in Copart by 192.4% during the 4th quarter. PineStone Asset Management Inc. now owns 1,585,400 shares of the business services provider’s stock worth $90,986,000 after purchasing an additional 1,043,200 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Copart by 1,103.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,062,931 shares of the business services provider’s stock worth $55,698,000 after purchasing an additional 974,585 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. lifted their price objective on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th.

Copart Price Performance

NASDAQ:CPRT opened at $56.75 on Tuesday. Copart, Inc. has a 12 month low of $48.05 and a 12 month high of $64.38. The firm has a market capitalization of $54.68 billion, a PE ratio of 38.09 and a beta of 1.33. The business’s fifty day moving average price is $57.89 and its 200 day moving average price is $55.78.

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

Insider Activity at Copart

In other Copart news, Director Thomas N. Tryforos sold 83,310 shares of the firm’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $61.86, for a total transaction of $5,153,556.60. Following the transaction, the director now owns 7,850 shares of the company’s stock, valued at approximately $485,601. This trade represents a 91.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $56.84, for a total value of $13,384,683.20. The disclosure for this sale can be found here. Insiders have sold 398,790 shares of company stock valued at $23,161,540 in the last ninety days. Insiders own 9.68% of the company’s stock.

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.