Bridges Investment Management Inc. Cuts Stock Position in Copart, Inc. (NASDAQ:CPRT)

Bridges Investment Management Inc. trimmed its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 0.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 863,282 shares of the business services provider’s stock after selling 6,568 shares during the period. Bridges Investment Management Inc.’s holdings in Copart were worth $49,544,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp lifted its stake in 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 valued at $1,115,664,000 after buying an additional 3,667,534 shares in the last quarter. Jensen Investment Management Inc. lifted its position in shares of Copart by 2,466.0% in the third 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. Franklin Resources Inc. boosted its stake in shares of Copart by 335.8% in the third quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock worth $149,471,000 after acquiring an additional 2,084,626 shares during the last quarter. Comgest Global Investors S.A.S. increased its position in shares of Copart by 706.6% during the third 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. raised its stake in 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 valued at $90,986,000 after purchasing an additional 1,043,200 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Buying and Selling

In other news, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction that occurred 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 accessible through this hyperlink. Also, Director Thomas N. Tryforos sold 83,310 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $61.86, for a total value of $5,153,556.60. Following the sale, the director now directly owns 7,850 shares of the company’s stock, valued at approximately $485,601. This trade represents a 91.39 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 398,790 shares of company stock worth $23,161,540. Insiders own 9.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. lifted their target price on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th.

Copart Price Performance

CPRT opened at $54.80 on Friday. The company’s 50 day simple moving average is $57.62 and its two-hundred day simple moving average is $55.89. The firm has a market capitalization of $52.80 billion, a price-to-earnings ratio of 36.78 and a beta of 1.33. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38.

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 return on equity of 19.31% and a net margin of 32.27%. The company 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 earnings per share for the current fiscal year.

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.