iA Global Asset Management Inc. Has $5.54 Million Position in Copart, Inc. (NASDAQ:CPRT)

iA Global Asset Management Inc. trimmed its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 80.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 105,666 shares of the business services provider's stock after selling 440,991 shares during the quarter. iA Global Asset Management Inc.'s holdings in Copart were worth $5,537,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Optimum Investment Advisors grew its position in shares of Copart by 141.5% in the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider's stock valued at $27,000 after buying an additional 300 shares during the last quarter. Eastern Bank acquired a new stake in shares of Copart in the third quarter valued at about $29,000. Quarry LP acquired a new position in Copart during the third quarter worth about $29,000. Crewe Advisors LLC raised its position in Copart by 98.6% during the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider's stock worth $31,000 after acquiring an additional 280 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its position in shares of Copart by 283.3% in the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider's stock valued at $31,000 after buying an additional 425 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Stock Performance

Shares of Copart stock traded up $0.17 during trading on Friday, hitting $62.08. 2,905,943 shares of the stock were exchanged, compared to its average volume of 4,609,977. The stock's fifty day moving average is $56.07 and its 200 day moving average is $53.76. The stock has a market cap of $59.82 billion, a PE ratio of 43.72 and a beta of 1.31. Copart, Inc. has a 12 month low of $46.21 and a 12 month high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.10 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. The company's quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.34 earnings per share. Sell-side analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CPRT shares. Robert W. Baird cut their price objective on shares of Copart from $58.00 to $56.00 and set an "outperform" rating for the company in a research 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 stock a "neutral" rating in a research note on Tuesday, November 19th.

Insider Activity

In other Copart news, Chairman A Jayson Adair sold 251,423 shares of the company's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the completion of the sale, the chairman now directly owns 14,436,557 shares of the company's stock, valued at approximately $920,907,971.03. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 9.68% of the company's stock.

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.