Copart, Inc. (NASDAQ:CPRT) Shares Sold by Quent Capital LLC

Quent Capital LLC cut its position in shares of Copart, Inc. (NASDAQ:CPRT) by 4.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 6,212 shares of the business services provider’s stock after selling 273 shares during the period. Quent Capital LLC’s holdings in Copart were worth $357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the business. Jensen Investment Management Inc. lifted its holdings in 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 worth $185,299,000 after acquiring an additional 3,398,423 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Copart by 462.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock worth $192,240,000 after purchasing an additional 3,016,795 shares during the period. Franklin Resources Inc. raised its position in shares of Copart by 335.8% during the 3rd quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock worth $149,471,000 after purchasing an additional 2,084,626 shares during the period. Comgest Global Investors S.A.S. lifted its holdings in shares of Copart by 706.6% in the 3rd 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 during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in Copart by 1,103.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,062,931 shares of the business services provider’s stock valued at $55,698,000 after purchasing an additional 974,585 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insiders Place Their Bets

In related news, Director Daniel J. Englander sold 235,480 shares of the firm’s 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 available at this link. Also, Chairman A Jayson Adair sold 251,423 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total value of $16,038,273.17. Following the completion of the sale, the chairman now owns 14,436,557 shares of the company’s stock, valued at $920,907,971.03. This trade represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 650,213 shares of company stock worth $39,199,813. 9.68% of the stock is owned by company insiders.

Copart Stock Up 1.0 %

Copart stock opened at $59.23 on Wednesday. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The firm has a market capitalization of $57.07 billion, a price-to-earnings ratio of 41.71 and a beta of 1.33. The firm has a 50-day moving average price of $58.46 and a two-hundred day moving average price of $55.29.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. Copart had a return on equity of 18.96% and a net margin of 31.92%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the previous year, the firm posted $0.34 earnings per share. The business’s revenue was up 12.4% on a year-over-year basis. Research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.