Copart, Inc. (NASDAQ:CPRT) Stake Boosted by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board grew its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 8.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 442,564 shares of the business services provider's stock after acquiring an additional 35,056 shares during the quarter. Canada Pension Plan Investment Board's holdings in Copart were worth $25,399,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sandy Spring Bank lifted its position in Copart by 59.5% during the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock valued at $27,000 after buying an additional 176 shares in the last quarter. Curio Wealth LLC purchased a new position in shares of Copart in the 4th quarter valued at $52,000. Retirement Wealth Solutions LLC acquired a new position in shares of Copart during the 4th quarter valued at $54,000. Eastern Bank boosted its position in Copart by 115.1% during the 4th quarter. Eastern Bank now owns 1,196 shares of the business services provider's stock worth $69,000 after purchasing an additional 640 shares during the period. Finally, R Squared Ltd purchased a new stake in Copart during the 4th quarter worth $73,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Copart

In other news, Director James E. Meeks sold 100,000 shares of the company's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total value of $5,400,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Steven D. Cohan sold 5,003 shares of the stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $60.01, for a total transaction of $300,230.03. The disclosure for this sale can be found here. Insiders sold a total of 200,000 shares of company stock worth $11,401,000 in the last 90 days. 9.68% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

Copart Stock Up 1.5 %

Shares of CPRT traded up $0.92 during mid-day trading on Thursday, reaching $61.97. 3,594,697 shares of the stock traded hands, compared to its average volume of 4,412,421. The stock has a fifty day simple moving average of $56.26 and a 200 day simple moving average of $57.02. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38. The firm has a market cap of $59.87 billion, a price-to-earnings ratio of 41.59 and a beta of 1.22.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly 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. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. On average, equities research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

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.