Mutual of America Capital Management LLC Cuts Position in Copart, Inc. (NASDAQ:CPRT)

Mutual of America Capital Management LLC cut its stake in Copart, Inc. (NASDAQ:CPRT) by 2.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 105,039 shares of the business services provider’s stock after selling 2,812 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Copart were worth $6,028,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bank of New York Mellon Corp boosted its position in shares of Copart by 23.3% in the 4th 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 purchasing an additional 3,667,534 shares in the last quarter. Jensen Investment Management Inc. boosted its position in shares of 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 worth $185,299,000 after purchasing an additional 3,398,423 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Copart by 335.8% in the 3rd quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock worth $149,471,000 after purchasing an additional 2,084,626 shares in the last quarter. Comgest Global Investors S.A.S. boosted its position in shares of 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 purchasing an additional 1,390,146 shares in the last quarter. Finally, PineStone Asset Management Inc. boosted its position in shares of Copart by 192.4% in 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. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Down 0.3 %

Shares of CPRT stock opened at $54.65 on Tuesday. The stock has a market cap of $52.66 billion, a PE ratio of 36.68 and a beta of 1.33. The business has a 50-day simple moving average of $57.55 and a 200-day simple moving average of $55.94. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data 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 business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. Sell-side analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Diane M. Morefield sold 30,000 shares of Copart 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 transaction, the director now owns 20,000 shares in the company, valued at $1,160,200. The trade was a 60.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of Copart 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 sold a total of 398,790 shares of company stock valued at $23,161,540 in the last quarter. 9.68% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lifted their price target on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research 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.