AXQ Capital LP Takes Position in Copart, Inc. (NASDAQ:CPRT)

AXQ Capital LP bought a new stake in Copart, Inc. (NASDAQ:CPRT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 12,221 shares of the business services provider's stock, valued at approximately $701,000.

Several other institutional investors and hedge funds have also bought and sold shares of CPRT. Sei Investments Co. increased its holdings in shares of Copart by 8.3% during the fourth quarter. Sei Investments Co. now owns 393,170 shares of the business services provider's stock valued at $22,564,000 after acquiring an additional 30,064 shares in the last quarter. Plancorp LLC acquired a new position in Copart during the 4th quarter valued at approximately $205,000. Mizuho Securities USA LLC raised its holdings in shares of Copart by 46.3% in the fourth quarter. Mizuho Securities USA LLC now owns 83,089 shares of the business services provider's stock worth $4,768,000 after buying an additional 26,305 shares during the last quarter. Independent Solutions Wealth Management LLC lifted its stake in shares of Copart by 1.9% during the fourth quarter. Independent Solutions Wealth Management LLC now owns 67,900 shares of the business services provider's stock worth $3,897,000 after buying an additional 1,286 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Copart by 5.2% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 245,184 shares of the business services provider's stock valued at $14,069,000 after buying an additional 12,206 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Price Performance

CPRT traded up $0.57 during trading on Thursday, reaching $55.64. 4,858,945 shares of the company's stock were exchanged, compared to its average volume of 4,014,583. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The company's fifty day simple moving average is $56.38 and its 200-day simple moving average is $56.10. The stock has a market capitalization of $53.75 billion, a P/E ratio of 37.34 and a beta of 1.30.

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

Insider Activity

In related news, Director Daniel J. Englander sold 235,480 shares of the stock in a transaction 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James E. Meeks sold 100,000 shares of the company's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total transaction of $5,400,000.00. The disclosure for this sale can be found here. Insiders sold a total of 385,480 shares of company stock valued at $21,667,683 in the last quarter. 9.68% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, Argus lowered Copart from a "buy" rating to a "hold" rating in a research note on Friday, March 14th.

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.