TimesSquare Capital Management LLC Raises Holdings in Copart, Inc. (NASDAQ:CPRT)

TimesSquare Capital Management LLC increased its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 44.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 632,911 shares of the business services provider's stock after acquiring an additional 195,650 shares during the quarter. TimesSquare Capital Management LLC owned about 0.07% of Copart worth $36,323,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Creative Planning grew its holdings in Copart by 1.2% during the 3rd quarter. Creative Planning now owns 141,602 shares of the business services provider's stock valued at $7,420,000 after buying an additional 1,646 shares in the last quarter. Trilogy Capital Inc. grew its holdings in Copart by 41.0% during the 3rd quarter. Trilogy Capital Inc. now owns 28,469 shares of the business services provider's stock valued at $1,492,000 after buying an additional 8,273 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in Copart by 7.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 16,526 shares of the business services provider's stock valued at $866,000 after buying an additional 1,122 shares in the last quarter. Eastern Bank purchased a new stake in Copart during the 3rd quarter valued at approximately $29,000. Finally, Segment Wealth Management LLC grew its holdings in Copart by 15.1% during the 3rd quarter. Segment Wealth Management LLC now owns 40,873 shares of the business services provider's stock valued at $2,142,000 after buying an additional 5,374 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Copart

In other Copart news, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $56.84, for a total value of $13,384,683.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Diane M. Morefield sold 30,000 shares of Copart stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $58.01, for a total value of $1,740,300.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at $1,160,200. This trade represents a 60.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 650,213 shares of company stock worth $39,199,813. 9.68% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Copart Price Performance

Shares of NASDAQ CPRT traded down $1.61 during midday trading on Friday, reaching $56.61. 7,227,988 shares of the stock traded hands, compared to its average volume of 3,550,620. The stock has a market capitalization of $54.55 billion, a PE ratio of 39.87 and a beta of 1.33. The company's 50 day moving average is $57.97 and its 200 day moving average is $55.65. Copart, Inc. has a one year low of $48.05 and a one year high of $64.38.

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