Cibc World Markets Corp Purchases 19,831 Shares of Copart, Inc. (NASDAQ:CPRT)

Cibc World Markets Corp boosted its holdings in Copart, Inc. (NASDAQ:CPRT) by 14.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 159,204 shares of the business services provider’s stock after buying an additional 19,831 shares during the period. Cibc World Markets Corp’s holdings in Copart were worth $9,137,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CPRT. Principal Financial Group Inc. raised its stake in Copart by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock valued at $2,037,130,000 after purchasing an additional 941,858 shares during the period. State Street Corp grew its holdings in Copart by 0.4% during the 3rd quarter. State Street Corp now owns 34,157,967 shares of the business services provider’s stock valued at $1,789,877,000 after buying an additional 120,939 shares in the last quarter. Edgewood Management LLC raised its position in shares of Copart by 0.6% during the third quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider’s stock valued at $1,077,119,000 after buying an additional 125,220 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Copart by 23.3% in the fourth quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider’s stock worth $1,115,664,000 after buying an additional 3,667,534 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Copart by 1.6% during the third quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider’s stock worth $979,547,000 after acquiring an additional 291,580 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on CPRT. JPMorgan Chase & Co. lifted their price target on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Argus downgraded Copart from a “buy” rating to a “hold” rating in a research report on Friday, March 14th.

Insider Activity

In related news, Director Diane M. Morefield sold 30,000 shares of Copart stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $1,160,200. The trade was a 60.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. Insiders sold 315,480 shares of company stock valued at $18,007,983 in the last ninety days. Insiders own 9.68% of the company’s stock.

Copart Stock Down 1.5 %

Copart stock opened at $52.92 on Wednesday. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The firm’s fifty day moving average is $56.58 and its 200 day moving average is $56.02. The company has a market cap of $51.13 billion, a price-to-earnings ratio of 35.52 and a beta of 1.30.

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