Bleakley Financial Group LLC Boosts Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Bleakley Financial Group LLC raised its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 10.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 16,889 shares of the business services provider’s stock after purchasing an additional 1,568 shares during the period. Bleakley Financial Group LLC’s holdings in Copart were worth $828,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in shares of Copart by 100.6% in the 3rd quarter. Vanguard Group Inc. now owns 97,512,662 shares of the business services provider’s stock valued at $4,201,821,000 after buying an additional 48,891,984 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Copart by 96.8% in the 3rd quarter. Principal Financial Group Inc. now owns 39,803,057 shares of the business services provider’s stock valued at $1,715,114,000 after buying an additional 19,576,719 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Copart by 84.4% in the 3rd quarter. Wellington Management Group LLP now owns 17,929,180 shares of the business services provider’s stock valued at $772,568,000 after buying an additional 8,205,757 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Copart by 79.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,359,152 shares of the business services provider’s stock valued at $748,006,000 after buying an additional 7,666,881 shares in the last quarter. Finally, FMR LLC boosted its stake in Copart by 93.6% in the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

CPRT stock opened at $55.38 on Friday. The firm has a market capitalization of $53.25 billion, a price-to-earnings ratio of 39.84 and a beta of 1.22. Copart, Inc. has a fifty-two week low of $38.05 and a fifty-two week high of $58.58. The company’s 50 day moving average price is $54.02 and its 200 day moving average price is $49.68.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.02). Copart had a net margin of 33.41% and a return on equity of 21.55%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the company posted $0.31 earnings per share. Copart’s revenue was up 6.6% compared to the same quarter last year. Equities analysts forecast that Copart, Inc. will post 1.42 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. StockNews.com lowered shares of Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $51.00.

Insider Buying and Selling at Copart

In other news, Chairman A Jayson Adair sold 600,000 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total value of $34,662,000.00. Following the completion of the transaction, the chairman now owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Copart news, Director Thomas N. Tryforos sold 285,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total value of $15,751,950.00. Following the completion of the transaction, the director now owns 35,000 shares in the company, valued at approximately $1,934,450. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $34,662,000.00. Following the completion of the transaction, the chairman now owns 19,687,980 shares of the company’s stock, valued at approximately $1,137,374,604.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 985,000 shares of company stock valued at $55,519,950. 10.23% of the stock is owned by company insiders.

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.