Geneva Partners LLC Takes Position in Copart, Inc. (NASDAQ:CPRT)

Geneva Partners LLC bought a new stake in Copart, Inc. (NASDAQ:CPRT) during the 4th quarter, HoldingsChannel.com reports. The firm bought 73,205 shares of the business services provider’s stock, valued at approximately $3,587,000. Copart comprises approximately 2.0% of Geneva Partners LLC’s holdings, making the stock its 25th biggest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CPRT. Nordea Investment Management AB lifted its position in Copart by 64.1% in the fourth quarter. Nordea Investment Management AB now owns 1,441,839 shares of the business services provider’s stock valued at $70,448,000 after buying an additional 563,233 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Copart by 1.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,848,048 shares of the business services provider’s stock valued at $139,554,000 after purchasing an additional 44,248 shares during the last quarter. CHURCHILL MANAGEMENT Corp lifted its position in Copart by 57.9% during the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 63,521 shares of the business services provider’s stock worth $3,113,000 after acquiring an additional 23,304 shares during the period. Artemis Investment Management LLP boosted its holdings in shares of Copart by 29.0% in the fourth quarter. Artemis Investment Management LLP now owns 1,167,186 shares of the business services provider’s stock valued at $57,193,000 after acquiring an additional 262,499 shares in the last quarter. Finally, Checchi Capital Advisers LLC increased its position in Copart by 72.5% during the 3rd quarter. Checchi Capital Advisers LLC now owns 6,228 shares of the business services provider’s stock worth $268,000 after purchasing an additional 2,618 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CPRT. StockNews.com downgraded shares of Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. upped 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. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $51.00.

Insider Transactions at Copart

In other Copart news, Director Matt Blunt sold 100,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $51.06, for a total transaction of $5,106,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Copart news, Director Thomas N. Tryforos sold 285,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the completion of the transaction, the director now owns 35,000 shares of the company’s stock, 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, 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 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 three months. Company insiders own 10.23% of the company’s stock.

Copart Stock Performance

Shares of Copart stock traded down $0.32 during trading hours on Friday, reaching $52.88. The company’s stock had a trading volume of 5,783,457 shares, compared to its average volume of 4,639,612. The company’s 50 day simple moving average is $54.34 and its 200 day simple moving average is $50.05. The stock has a market cap of $50.84 billion, a P/E ratio of 38.04 and a beta of 1.22. Copart, Inc. has a one year low of $38.35 and a one year high of $58.58.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). Copart had a net margin of 33.41% and a return on equity of 21.55%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the business posted $0.31 earnings per share. Copart’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, sell-side analysts predict that Copart, Inc. will post 1.42 earnings per share for the current fiscal year.

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.