Investment Management Corp of Ontario Has $1.51 Million Stock Position in Copart, Inc. (NASDAQ:CPRT)

Investment Management Corp of Ontario raised its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 48.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,803 shares of the business services provider's stock after acquiring an additional 9,400 shares during the quarter. Investment Management Corp of Ontario's holdings in Copart were worth $1,509,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Optimum Investment Advisors grew its holdings in 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 period. Eastern Bank purchased a new stake in shares of Copart during the 3rd quarter worth about $29,000. Crewe Advisors LLC grew its holdings in shares of Copart by 98.6% during the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider's stock worth $31,000 after purchasing an additional 280 shares during the period. Meeder Asset Management Inc. grew its holdings in shares of Copart by 283.3% during the 2nd 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 period. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Copart during the 3rd quarter worth about $33,000. Institutional investors and hedge funds own 85.78% of the company's stock.

Copart Price Performance

Shares of CPRT stock traded up $0.17 on Friday, hitting $62.08. 2,905,943 shares of the stock traded hands, compared to its average volume of 4,453,487. The company has a market capitalization of $59.82 billion, a PE ratio of 43.55 and a beta of 1.31. The company's fifty day moving average is $55.87 and its 200 day moving average is $53.72. Copart, Inc. has a 1-year low of $46.21 and a 1-year 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 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. Copart had a return on equity of 18.96% and a net margin of 31.92%. The company had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.10 billion. During the same quarter in the prior year, the business posted $0.34 earnings per share. The company's revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, equities research analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, Chairman A Jayson Adair sold 251,423 shares of the 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.68% of the stock is currently 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.