HighTower Advisors LLC Raises Position in Copart, Inc. (NASDAQ:CPRT)

HighTower Advisors LLC boosted its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 164.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 611,320 shares of the business services provider's stock after buying an additional 379,943 shares during the quarter. HighTower Advisors LLC owned approximately 0.06% of Copart worth $35,084,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CPRT. Principal Financial Group Inc. lifted its position in shares of Copart by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider's stock worth $2,037,130,000 after purchasing an additional 941,858 shares during the last quarter. State Street Corp grew its stake in shares of Copart by 0.4% in the third quarter. State Street Corp now owns 34,157,967 shares of the business services provider's stock worth $1,789,877,000 after acquiring an additional 120,939 shares during the last quarter. Edgewood Management LLC increased its position in Copart by 0.6% during the third quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider's stock worth $1,077,119,000 after acquiring an additional 125,220 shares during the period. Bank of New York Mellon Corp raised its stake in Copart by 23.3% during the 4th quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider's stock valued at $1,115,664,000 after purchasing an additional 3,667,534 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Copart by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider's stock valued at $979,547,000 after purchasing an additional 291,580 shares during the period. Institutional investors and hedge funds own 85.78% of the company's stock.

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Wall Street Analyst Weigh In

CPRT has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on Copart from $55.00 to $60.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 19th. Argus lowered shares of Copart from a "buy" rating to a "hold" rating in a report on Friday, March 14th.

Insiders Place Their Bets

In other Copart news, Director Matt Blunt sold 50,000 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total transaction of $2,883,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Diane M. Morefield sold 30,000 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the sale, the director now owns 20,000 shares in the company, valued at $1,160,200. The trade was a 60.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 315,480 shares of company stock valued at $18,007,983 over the last ninety days. 9.68% of the stock is currently owned by company insiders.

Copart Stock Up 1.8 %

NASDAQ CPRT traded up $0.96 during trading on Wednesday, reaching $53.88. 4,368,058 shares of the stock traded hands, compared to its average volume of 4,181,392. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38. The firm has a market cap of $52.05 billion, a price-to-earnings ratio of 36.16 and a beta of 1.30. The stock's 50-day moving average price is $56.58 and its 200 day moving average price is $56.02.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. Analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal 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.