BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $7.57 Million Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 12.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 144,518 shares of the business services provider's stock after selling 21,277 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Copart were worth $7,573,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Jensen Investment Management Inc. increased its stake in shares of 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 valued at $185,299,000 after purchasing an additional 3,398,423 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Copart by 462.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider's stock valued at $192,240,000 after purchasing an additional 3,016,795 shares during the period. Manning & Napier Advisors LLC purchased a new stake in Copart during the second quarter valued at about $109,382,000. Comgest Global Investors S.A.S. boosted its stake in 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 period. Finally, Kimelman & Baird LLC acquired a new stake in shares of Copart in the second quarter worth $70,307,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Robert W. Baird reduced their price target on Copart from $58.00 to $56.00 and set an "outperform" rating for the company in a report on Thursday, September 5th. JPMorgan Chase & Co. lifted their price objective on Copart from $55.00 to $60.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 19th.

Copart Price Performance

Shares of CPRT traded down $1.37 during trading hours on Monday, hitting $62.02. The stock had a trading volume of 4,775,574 shares, compared to its average volume of 4,471,686. The stock has a market capitalization of $59.76 billion, a price-to-earnings ratio of 44.64 and a beta of 1.27. Copart, Inc. has a 52 week low of $46.21 and a 52 week high of $64.38. The company's fifty day moving average is $55.06 and its two-hundred day moving average is $53.49.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings results on Wednesday, September 4th. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). Copart had a return on equity of 18.96% and a net margin of 31.92%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the firm earned $0.34 EPS. The firm's quarterly revenue was up 7.2% compared to the same quarter last year. Equities analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Activity

In other Copart news, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the transaction, the chairman now directly owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 9.68% of the stock is currently owned by company 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.