Rhumbline Advisers Sells 15,596 Shares of Copart, Inc. (NASDAQ:CPRT)

Rhumbline Advisers lessened its position in Copart, Inc. (NASDAQ:CPRT) by 1.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,608,407 shares of the business services provider’s stock after selling 15,596 shares during the period. Rhumbline Advisers’ holdings in Copart were worth $92,306,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Jensen Investment Management Inc. lifted 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 acquiring an additional 3,398,423 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Copart by 462.8% during the third quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock valued at $192,240,000 after purchasing an additional 3,016,795 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Copart by 335.8% during 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 buying an additional 2,084,626 shares during the last quarter. Comgest Global Investors S.A.S. increased its holdings in Copart by 706.6% in the 3rd quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock worth $83,153,000 after buying an additional 1,390,146 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in Copart by 1,103.1% in 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 buying an additional 974,585 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Price Performance

CPRT stock opened at $59.39 on Friday. The company has a market cap of $57.22 billion, a P/E ratio of 41.82 and a beta of 1.33. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The stock’s fifty day moving average price is $58.29 and its 200-day moving average price is $55.43.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, meeting the consensus estimate of $0.37. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.10 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.34 EPS. As a group, analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Transactions at Copart

In related news, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the transaction, the chairman now directly owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Diane M. Morefield sold 30,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $58.01, for a total value of $1,740,300.00. Following the completion of the sale, the director now 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 disclosure for this sale can be found here. Insiders have sold 650,213 shares of company stock worth $39,199,813 in the last 90 days. 9.68% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. raised 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.

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.