OFI Invest Asset Management Makes New $2.83 Million Investment in Copart, Inc. (NASDAQ:CPRT)

OFI Invest Asset Management bought a new stake in Copart, Inc. (NASDAQ:CPRT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 50,979 shares of the business services provider's stock, valued at approximately $2,825,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Cadence Bank raised its stake in Copart by 0.6% during the third quarter. Cadence Bank now owns 31,549 shares of the business services provider's stock valued at $1,653,000 after buying an additional 178 shares during the last quarter. Lindbrook Capital LLC raised its stake in Copart by 3.2% during the fourth quarter. Lindbrook Capital LLC now owns 6,007 shares of the business services provider's stock valued at $345,000 after buying an additional 184 shares during the last quarter. Everpar Advisors LLC raised its stake in Copart by 4.3% during the fourth quarter. Everpar Advisors LLC now owns 4,811 shares of the business services provider's stock valued at $276,000 after buying an additional 199 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in Copart by 0.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 75,170 shares of the business services provider's stock valued at $4,314,000 after buying an additional 200 shares during the last quarter. Finally, Simmons Bank raised its stake in Copart by 4.4% during the fourth quarter. Simmons Bank now owns 4,728 shares of the business services provider's stock valued at $271,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company's stock.

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Copart Stock Down 1.7 %

Shares of Copart stock traded down $0.92 on Monday, reaching $52.82. The company's stock had a trading volume of 8,140,620 shares, compared to its average volume of 4,099,953. The company has a market capitalization of $51.03 billion, a price-to-earnings ratio of 35.45 and a beta of 1.30. The firm's fifty day simple moving average is $57.05 and its two-hundred day simple moving average is $56.01. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last posted its earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, topping analysts' consensus estimates of $0.38 by $0.02. Copart had a return on equity of 19.31% and a net margin of 32.27%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. As a group, research analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, Director Matt Blunt sold 50,000 shares of the business's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total value of $2,883,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Daniel J. Englander sold 235,480 shares of the business's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $56.84, for a total value of $13,384,683.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 315,480 shares of company stock worth $18,007,983. Corporate insiders own 9.68% of the company's stock.

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.