Royal London Asset Management Ltd. Acquires 22,928 Shares of Copart, Inc. (NASDAQ:CPRT)

Royal London Asset Management Ltd. grew its holdings in Copart, Inc. (NASDAQ:CPRT) by 1.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,450,970 shares of the business services provider’s stock after acquiring an additional 22,928 shares during the quarter. Royal London Asset Management Ltd. owned 0.15% of Copart worth $83,271,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Principal Financial Group Inc. raised its holdings 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 worth $2,037,130,000 after buying an additional 941,858 shares during the period. Thrivent Financial for Lutherans increased its position in shares of Copart by 34.0% during the third quarter. Thrivent Financial for Lutherans now owns 193,671 shares of the business services provider’s stock worth $10,149,000 after acquiring an additional 49,149 shares in the last quarter. MAI Capital Management raised its holdings in shares of Copart by 53.4% during the third quarter. MAI Capital Management now owns 70,803 shares of the business services provider’s stock worth $3,710,000 after acquiring an additional 24,654 shares during the period. Quest Partners LLC bought a new stake in Copart in the 3rd quarter valued at $848,000. Finally, Meeder Advisory Services Inc. boosted its stake in Copart by 12.9% in the 3rd quarter. Meeder Advisory Services Inc. now owns 17,648 shares of the business services provider’s stock worth $925,000 after purchasing an additional 2,021 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Up 1.8 %

NASDAQ CPRT opened at $53.88 on Thursday. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38. The firm’s 50 day moving average is $56.53 and its 200-day moving average is $56.00. The company has a market capitalization of $52.05 billion, a PE ratio of 36.16 and a beta of 1.30.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, topping 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%. As a group, sell-side analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Insider Buying and Selling

In other Copart news, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $56.84, for a total transaction of $13,384,683.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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. This trade represents a 60.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 315,480 shares of company stock worth $18,007,983. Corporate insiders own 9.68% of the company’s stock.

Analyst Ratings Changes

Separately, Argus lowered Copart from a “buy” rating to a “hold” rating in a report on Friday, March 14th.

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.