Holocene Advisors LP Raises Position in Copart, Inc. (NASDAQ:CPRT)

Holocene Advisors LP grew its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 25.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,485,057 shares of the business services provider's stock after purchasing an additional 298,194 shares during the period. Holocene Advisors LP owned about 0.15% of Copart worth $77,817,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CPRT. Optimum Investment Advisors grew its position in shares of Copart by 141.5% during the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider's stock valued at $27,000 after purchasing an additional 300 shares in the last quarter. Eastern Bank bought a new position in Copart in the third quarter worth approximately $29,000. Crewe Advisors LLC raised its stake in Copart by 98.6% in the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider's stock worth $31,000 after buying an additional 280 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in Copart by 283.3% in the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider's stock worth $31,000 after purchasing an additional 425 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in Copart by 477.7% in the second quarter. Versant Capital Management Inc now owns 595 shares of the business services provider's stock worth $32,000 after purchasing an additional 492 shares during the last quarter. Institutional investors own 85.78% of the company's stock.

Copart Stock Up 0.2 %

Shares of Copart stock traded up $0.15 during mid-day trading on Tuesday, hitting $62.17. The stock had a trading volume of 2,361,922 shares, compared to its average volume of 4,461,754. The firm has a 50-day moving average of $55.26 and a two-hundred day moving average of $53.54. Copart, Inc. has a 12-month low of $46.21 and a 12-month high of $64.38. The firm has a market cap of $59.90 billion, a P/E ratio of 43.46 and a beta of 1.31.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). The company 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%. The business's revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.34 EPS. Sell-side analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CPRT shares. Robert W. Baird dropped their price objective on shares of Copart from $58.00 to $56.00 and set an "outperform" rating on the stock in a report on Thursday, September 5th. JPMorgan Chase & Co. boosted their price objective on shares of Copart from $55.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, November 19th.

Insiders Place Their Bets

In other news, Chairman A Jayson Adair sold 251,423 shares of the firm's stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total value of $16,038,273.17. Following the sale, the chairman now directly owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. This trade represents a 1.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.68% of the stock is owned by company insiders.

Copart 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.