Copart, Inc. (NASDAQ:CPRT) Holdings Lowered by Quantum Capital Management LLC NJ

Quantum Capital Management LLC NJ trimmed its holdings in Copart, Inc. (NASDAQ:CPRT) by 3.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,439,247 shares of the business services provider’s stock after selling 44,071 shares during the period. Copart accounts for about 8.3% of Quantum Capital Management LLC NJ’s portfolio, making the stock its 2nd largest position. Quantum Capital Management LLC NJ’s holdings in Copart were worth $70,523,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Copart by 100.6% in the third quarter. Vanguard Group Inc. now owns 97,512,662 shares of the business services provider’s stock valued at $4,201,821,000 after acquiring an additional 48,891,984 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Copart by 84.4% in the third quarter. Wellington Management Group LLP now owns 17,929,180 shares of the business services provider’s stock worth $772,568,000 after purchasing an additional 8,205,757 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Copart by 79.1% in the third quarter. JPMorgan Chase & Co. now owns 17,359,152 shares of the business services provider’s stock worth $748,006,000 after purchasing an additional 7,666,881 shares during the last quarter. FMR LLC increased its holdings in shares of Copart by 93.6% in the third quarter. FMR LLC now owns 14,733,860 shares of the business services provider’s stock worth $634,882,000 after purchasing an additional 7,122,991 shares during the last quarter. Finally, Morgan Stanley increased its holdings in shares of Copart by 102.2% in the third quarter. Morgan Stanley now owns 9,725,148 shares of the business services provider’s stock worth $419,057,000 after purchasing an additional 4,915,348 shares during the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Up 0.9 %

NASDAQ CPRT traded up $0.50 during trading hours on Friday, hitting $54.02. 2,632,294 shares of the company were exchanged, compared to its average volume of 3,864,753. The stock has a 50-day moving average price of $55.50 and a 200 day moving average price of $51.84. Copart, Inc. has a 52 week low of $42.41 and a 52 week high of $58.58. The stock has a market cap of $51.94 billion, a PE ratio of 38.04 and a beta of 1.22.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, May 16th. The business services provider reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. Copart had a return on equity of 20.80% and a net margin of 33.33%. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Copart, Inc. will post 1.43 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. StockNews.com cut Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. JPMorgan Chase & Co. lifted their target price on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $51.00.

Insiders Place Their Bets

In other news, Director Matt Blunt sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $51.06, for a total transaction of $5,106,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Chairman A Jayson Adair sold 600,000 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the transaction, the chairman now owns 19,687,980 shares of the company’s stock, valued at $1,137,374,604.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Matt Blunt sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $51.06, for a total value of $5,106,000.00. The disclosure for this sale can be found here. Insiders have sold 985,000 shares of company stock valued at $55,519,950 over the last ninety days. 10.23% of the stock is owned by insiders.

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.