Connor Clark & Lunn Investment Management Ltd. Has $12.93 Million Stock Position in Copart, Inc. (NASDAQ:CPRT)

Connor Clark & Lunn Investment Management Ltd. reduced its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 22.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 225,368 shares of the business services provider's stock after selling 64,632 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Copart were worth $12,934,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Quarry LP purchased a new position in shares of Copart in the third quarter valued at $29,000. Ashton Thomas Securities LLC acquired a new stake in Copart in the 3rd quarter valued at about $33,000. True Wealth Design LLC increased its holdings in Copart by 1,737.1% during the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider's stock valued at $34,000 after acquiring an additional 608 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in Copart during the fourth quarter worth about $54,000. Finally, Continuum Advisory LLC lifted its holdings in shares of Copart by 88.6% in the third quarter. Continuum Advisory LLC now owns 962 shares of the business services provider's stock valued at $55,000 after purchasing an additional 452 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Price Performance

Copart stock traded up $0.96 during midday trading on Wednesday, hitting $53.88. 4,368,068 shares of the company were exchanged, compared to its average volume of 4,020,704. The company has a market cap of $52.05 billion, a PE ratio of 36.16 and a beta of 1.30. The company's fifty day moving average price is $56.58 and its 200-day moving average price is $56.02. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38.

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Copart (NASDAQ:CPRT - Get Free Report) last released 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 company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. On average, analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Argus cut Copart from a "buy" rating to a "hold" rating in a report on Friday, March 14th. JPMorgan Chase & Co. boosted their target price on shares of Copart from $55.00 to $60.00 and gave the company a "neutral" rating in a research note on Tuesday, November 19th.

Insider Activity at Copart

In other news, Director Daniel J. Englander sold 235,480 shares of the firm's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 disclosure for this sale can be found here. Insiders have sold a total of 315,480 shares of company stock worth $18,007,983 in the last three months. 9.68% of the stock is owned by company insiders.

About Copart

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.