Harvey Partners LLC Sells 352,000 Shares of Copart, Inc. (NASDAQ:CPRT)

Harvey Partners LLC lowered its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 66.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 180,000 shares of the business services provider's stock after selling 352,000 shares during the quarter. Harvey Partners LLC's holdings in Copart were worth $9,432,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cetera Investment Advisers boosted its holdings in Copart by 162.9% in the 1st quarter. Cetera Investment Advisers now owns 184,417 shares of the business services provider's stock worth $10,681,000 after acquiring an additional 114,263 shares during the period. Cetera Advisors LLC lifted its holdings in shares of Copart by 72.0% during the 1st quarter. Cetera Advisors LLC now owns 35,767 shares of the business services provider's stock valued at $2,072,000 after buying an additional 14,971 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Copart by 20.2% during the first quarter. EverSource Wealth Advisors LLC now owns 2,368 shares of the business services provider's stock worth $129,000 after buying an additional 398 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Copart by 477.7% during the second quarter. Versant Capital Management Inc now owns 595 shares of the business services provider's stock valued at $32,000 after purchasing an additional 492 shares during the period. Finally, Mather Group LLC. grew its holdings in shares of Copart by 5.8% during the second quarter. Mather Group LLC. now owns 10,141 shares of the business services provider's stock worth $587,000 after purchasing an additional 560 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CPRT. JPMorgan Chase & Co. lifted their price target on Copart from $55.00 to $60.00 and gave the stock a "neutral" rating in a report on Tuesday, November 19th. Robert W. Baird decreased their price target on Copart from $58.00 to $56.00 and set an "outperform" rating on the stock in a research note on Thursday, September 5th.

Copart Stock Up 0.4 %

Shares of NASDAQ CPRT traded up $0.22 during midday trading on Tuesday, reaching $62.24. 4,295,261 shares of the stock were exchanged, compared to its average volume of 4,470,929. The firm has a 50-day simple moving average of $55.26 and a two-hundred day simple moving average of $53.54. The firm has a market cap of $59.97 billion, a price-to-earnings ratio of 43.83 and a beta of 1.31. Copart, Inc. has a twelve month low of $46.21 and a twelve month high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last posted its earnings results on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The business had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.07 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. Copart's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 EPS. Research analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman A Jayson Adair sold 251,423 shares of the business's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total value of $16,038,273.17. Following the completion of the transaction, the chairman now owns 14,436,557 shares of the company's stock, valued at $920,907,971.03. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.68% of the stock is owned by insiders.

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.