National Bank of Canada FI Boosts Stock Position in Copart, Inc. (NASDAQ:CPRT)

National Bank of Canada FI increased its stake in Copart, Inc. (NASDAQ:CPRT) by 83.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,345,134 shares of the business services provider’s stock after buying an additional 613,831 shares during the quarter. National Bank of Canada FI’s holdings in Copart were worth $63,903,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. OFI Invest Asset Management bought a new stake in shares of Copart during the third quarter valued at about $25,000. Manchester Capital Management LLC increased its holdings in Copart by 101.0% during the 3rd quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider’s stock worth $27,000 after acquiring an additional 314 shares during the period. Bell Investment Advisors Inc lifted its stake in Copart by 87.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider’s stock worth $30,000 after purchasing an additional 323 shares in the last quarter. Annapolis Financial Services LLC boosted its holdings in Copart by 100.0% in the 3rd quarter. Annapolis Financial Services LLC now owns 720 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 360 shares during the period. Finally, Fortitude Family Office LLC purchased a new position in shares of Copart during the 4th quarter valued at $34,000. 85.78% of the stock is currently owned by institutional investors.

Copart Price Performance

NASDAQ CPRT traded up $0.80 during trading hours on Friday, reaching $55.20. 5,285,026 shares of the stock traded hands, compared to its average volume of 3,813,627. The stock has a 50 day simple moving average of $55.40 and a two-hundred day simple moving average of $50.75. Copart, Inc. has a 1 year low of $39.06 and a 1 year high of $58.58. The company has a market cap of $53.07 billion, a price-to-earnings ratio of 39.71 and a beta of 1.22.

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

Analyst Ratings Changes

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

Insider Activity at Copart

In other news, Chairman A Jayson Adair sold 600,000 shares of the firm’s stock in a transaction dated 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 directly owns 19,687,980 shares of the company’s stock, valued at $1,137,374,604.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Copart news, Director Matt Blunt sold 100,000 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $51.06, for a total transaction of $5,106,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $34,662,000.00. Following the completion of the sale, the chairman now directly owns 19,687,980 shares in the company, valued at approximately $1,137,374,604.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 985,000 shares of company stock valued at $55,519,950. Insiders own 10.23% of the company’s stock.

Copart 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.