73,205 Shares in Copart, Inc. (NASDAQ:CPRT) Bought by Geneva Partners LLC

Geneva Partners LLC bought a new stake in Copart, Inc. (NASDAQ:CPRT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 73,205 shares of the business services provider’s stock, valued at approximately $3,587,000. Copart accounts for about 2.0% of Geneva Partners LLC’s holdings, making the stock its 25th biggest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position 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. raised its position in shares of Copart by 96.8% during the third quarter. Principal Financial Group Inc. now owns 39,803,057 shares of the business services provider’s stock worth $1,715,114,000 after purchasing an additional 19,576,719 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Copart by 84.4% during 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 purchasing an additional 8,205,757 shares in the last quarter. JPMorgan Chase & Co. grew its position 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 purchasing an additional 7,666,881 shares during the period. Finally, FMR LLC grew its position in shares of Copart by 93.6% in the 3rd quarter. FMR LLC now owns 14,733,860 shares of the business services provider’s stock valued at $634,882,000 after purchasing an additional 7,122,991 shares during the period. Institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

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

Copart Price Performance

CPRT stock traded down $0.32 during midday trading on Friday, hitting $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 fifty day moving average price is $54.34 and its 200 day moving average price is $50.05. Copart, Inc. has a twelve month low of $38.35 and a twelve month high of $58.58. The stock has a market capitalization of $50.84 billion, a P/E ratio of 38.04 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 (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. Copart had a return on equity of 21.55% and a net margin of 33.41%. The business’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.31 EPS. Equities analysts expect that Copart, Inc. will post 1.42 EPS for the current fiscal year.

Insider Activity at Copart

In other Copart news, Chairman A Jayson Adair sold 600,000 shares of Copart stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value of $34,662,000.00. Following the completion of the sale, the chairman now owns 19,687,980 shares in the company, valued at approximately $1,137,374,604.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman A Jayson Adair sold 600,000 shares of the stock in a transaction that occurred 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 sale, the chairman now owns 19,687,980 shares of the company’s stock, valued at $1,137,374,604.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Matt Blunt sold 100,000 shares of Copart stock in a transaction on Monday, February 26th. The shares were 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. Over the last three months, insiders have sold 985,000 shares of company stock worth $55,519,950. Corporate 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.