Bank of Nova Scotia Grows Stake in Copart, Inc. (NASDAQ:CPRT)

Bank of Nova Scotia boosted its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 387.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 771,178 shares of the business services provider's stock after acquiring an additional 612,961 shares during the quarter. Bank of Nova Scotia owned 0.08% of Copart worth $44,266,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CPRT. Principal Financial Group Inc. grew its stake in shares of Copart by 2.5% in the third quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider's stock worth $2,037,130,000 after acquiring an additional 941,858 shares during the period. Janus Henderson Group PLC boosted its holdings in Copart by 7.7% in the third quarter. Janus Henderson Group PLC now owns 96,566 shares of the business services provider's stock worth $5,060,000 after purchasing an additional 6,900 shares during the last quarter. Quarry LP bought a new stake in Copart in the 3rd quarter worth approximately $29,000. MML Investors Services LLC raised its stake in Copart by 3.2% during the 3rd quarter. MML Investors Services LLC now owns 153,037 shares of the business services provider's stock valued at $8,019,000 after buying an additional 4,703 shares during the last quarter. Finally, Continuum Advisory LLC lifted its holdings in shares of Copart by 88.6% during the 3rd quarter. Continuum Advisory LLC now owns 962 shares of the business services provider's stock valued at $55,000 after buying an additional 452 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Analyst Upgrades and Downgrades

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

Copart Price Performance

Shares of CPRT traded down $0.27 on Monday, reaching $59.57. The company's stock had a trading volume of 1,250,028 shares, compared to its average volume of 4,390,887. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38. The stock has a market capitalization of $57.55 billion, a P/E ratio of 39.98 and a beta of 1.22. The stock's 50 day simple moving average is $56.12 and its two-hundred day simple moving average is $56.67.

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

Insider Activity at Copart

In other Copart news, Director James E. Meeks sold 100,000 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total value of $5,400,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.68% of the stock is currently owned by corporate insiders.

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.