CIBC Asset Management Inc Raises Position in Copart, Inc. (NASDAQ:CPRT)

CIBC Asset Management Inc increased its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 299,025 shares of the business services provider's stock after acquiring an additional 10,535 shares during the quarter. CIBC Asset Management Inc's holdings in Copart were worth $17,161,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kieckhefer Group LLC acquired a new stake in shares of Copart during the fourth quarter worth about $3,962,000. Sanctuary Advisors LLC grew its stake in Copart by 21.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 52,767 shares of the business services provider's stock worth $2,765,000 after buying an additional 9,222 shares during the last quarter. Geode Capital Management LLC increased its position in Copart by 1.6% during the third quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider's stock worth $979,547,000 after buying an additional 291,580 shares during the period. Kinsale Capital Group Inc. lifted its stake in Copart by 17.7% in the third quarter. Kinsale Capital Group Inc. now owns 89,979 shares of the business services provider's stock valued at $4,715,000 after buying an additional 13,554 shares during the last quarter. Finally, Oddo BHF Asset Management Sas purchased a new stake in Copart in the third quarter valued at approximately $1,206,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. lifted their target price on shares of Copart from $55.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, November 19th.

Insider Transactions at Copart

In related news, Director Thomas N. Tryforos sold 83,310 shares of the company's stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $61.86, for a total value of $5,153,556.60. Following the sale, the director now owns 7,850 shares in the company, valued at $485,601. This represents a 91.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Daniel J. Englander sold 235,480 shares of the firm's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $56.84, for a total value of $13,384,683.20. The disclosure for this sale can be found here. In the last three months, insiders sold 650,213 shares of company stock valued at $39,199,813. Corporate insiders own 9.68% of the company's stock.

Copart Stock Performance

CPRT traded down $1.61 during trading on Friday, hitting $56.61. The stock had a trading volume of 7,227,988 shares, compared to its average volume of 3,550,620. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38. The firm has a market capitalization of $54.55 billion, a P/E ratio of 39.87 and a beta of 1.33. The company's 50-day moving average price is $57.97 and its 200 day moving average price is $55.65.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.02. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. As a group, equities analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

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.