Invesco Ltd. Sells 2,285,873 Shares of Copart, Inc. (NASDAQ:CPRT)

Invesco Ltd. lowered its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 20.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,831,908 shares of the business services provider's stock after selling 2,285,873 shares during the period. Invesco Ltd. owned about 0.92% of Copart worth $506,863,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in CPRT. Sandy Spring Bank increased its stake in Copart by 59.5% in the 4th 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 during the last quarter. Quarry LP purchased a new stake in shares of Copart during the third quarter valued at approximately $29,000. Curio Wealth LLC bought a new stake in Copart during the fourth quarter worth $52,000. Retirement Wealth Solutions LLC purchased a new position in Copart in the fourth quarter worth $54,000. Finally, Continuum Advisory LLC grew its stake in Copart by 88.6% in the 3rd 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 during the period. 85.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Argus downgraded shares of Copart from a "buy" rating to a "hold" rating in a report on Friday, March 14th.

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Insiders Place Their Bets

In related news, Director James E. Meeks sold 100,000 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total transaction of $5,400,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 9.68% of the company's stock.

Copart Trading Down 0.2 %

Shares of NASDAQ:CPRT traded down $0.09 during mid-day trading on Monday, reaching $59.75. The company had a trading volume of 1,138,094 shares, compared to its average volume of 4,390,434. The company's 50-day moving average price is $56.12 and its 200-day moving average price is $56.67. Copart, Inc. has a one year low of $48.05 and a one year high of $64.38. The firm has a market cap of $57.72 billion, a price-to-earnings ratio of 40.10 and a beta of 1.22.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, beating 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 firm had revenue of $1.16 billion for the quarter, compared to analysts' expectations of $1.13 billion. On average, research analysts anticipate that Copart, Inc. will post 1.57 EPS 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.