United Services Automobile Association Cuts Holdings in Copart, Inc. (NASDAQ:CPRT)

United Services Automobile Association lowered its stake in Copart, Inc. (NASDAQ:CPRT) by 3.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,258 shares of the business services provider’s stock after selling 713 shares during the period. United Services Automobile Association’s holdings in Copart were worth $1,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in CPRT. Principal Financial Group Inc. raised its holdings in Copart by 2.5% in the third 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 acquiring an additional 941,858 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Copart by 25.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 15,856 shares of the business services provider’s stock valued at $831,000 after purchasing an additional 3,177 shares during the last quarter. Meridian Wealth Management LLC acquired a new stake in shares of Copart in the 3rd quarter valued at $465,000. Cerity Partners LLC lifted its position in shares of Copart by 22.9% during the 3rd quarter. Cerity Partners LLC now owns 287,837 shares of the business services provider’s stock worth $15,083,000 after purchasing an additional 53,625 shares during the last quarter. Finally, Baltimore Washington Financial Advisors Inc. grew its stake in shares of Copart by 2.5% during the third quarter. Baltimore Washington Financial Advisors Inc. now owns 218,959 shares of the business services provider’s stock worth $11,473,000 after purchasing an additional 5,248 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling at Copart

In other news, Director Daniel J. Englander sold 235,480 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $56.84, for a total value of $13,384,683.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matt Blunt sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total transaction of $2,883,000.00. The disclosure for this sale can be found here. Insiders sold 385,480 shares of company stock worth $21,667,683 over the last 90 days. Corporate insiders own 9.68% of the company’s stock.

Copart Stock Down 0.4 %

Shares of CPRT opened at $53.63 on Monday. The company has a market capitalization of $51.81 billion, a price-to-earnings ratio of 35.99 and a beta of 1.30. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The stock has a 50 day moving average price of $56.43 and a 200 day moving average price of $56.03.

Copart (NASDAQ:CPRT) last issued 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. Copart had a net margin of 32.27% and a return on equity of 19.31%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. On average, equities analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Argus cut Copart from a “buy” rating to a “hold” rating in a research note on Friday, March 14th.

Copart Company 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.