Jensen Investment Management Inc. Sells 29,639 Shares of Copart, Inc. (NASDAQ:CPRT)

Jensen Investment Management Inc. reduced its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,506,594 shares of the business services provider's stock after selling 29,639 shares during the quarter. Copart comprises about 1.8% of Jensen Investment Management Inc.'s portfolio, making the stock its 21st biggest position. Jensen Investment Management Inc. owned approximately 0.36% of Copart worth $201,243,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its holdings in shares of Copart by 2.5% in 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 in the last quarter. Aigen Investment Management LP bought a new position in shares of Copart in the third quarter valued at $212,000. OneDigital Investment Advisors LLC lifted its stake in shares of Copart by 1.8% in the third quarter. OneDigital Investment Advisors LLC now owns 19,298 shares of the business services provider's stock valued at $1,011,000 after buying an additional 337 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Copart by 20.9% during the third quarter. Empowered Funds LLC now owns 64,069 shares of the business services provider's stock valued at $3,357,000 after buying an additional 11,089 shares during the last quarter. Finally, Natixis Advisors LLC increased its position in shares of Copart by 4.4% during the third quarter. Natixis Advisors LLC now owns 1,290,498 shares of the business services provider's stock worth $67,622,000 after acquiring an additional 53,834 shares in the last quarter. Institutional investors own 85.78% of the company's stock.

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Copart Stock Down 0.1 %

NASDAQ CPRT traded down $0.03 on Thursday, reaching $53.85. The company had a trading volume of 3,098,348 shares, compared to its average volume of 4,017,373. The stock has a market capitalization of $52.02 billion, a P/E ratio of 36.14 and a beta of 1.30. The company's fifty day moving average is $56.53 and its 200 day moving average is $56.00. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last announced its earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.38 by $0.02. Copart had a net margin of 32.27% and a return on equity of 19.31%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. On average, research analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Insiders Place Their Bets

In related news, Director Matt Blunt sold 50,000 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total transaction of $2,883,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Diane M. Morefield sold 30,000 shares of Copart 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 completion of the sale, the director now directly owns 20,000 shares in the company, valued at approximately $1,160,200. This represents a 60.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 315,480 shares of company stock valued at $18,007,983 in the last 90 days. 9.68% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, Argus cut shares of Copart from a "buy" rating to a "hold" rating in a research report on Friday, March 14th.

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.