May Barnhard Investments LLC Takes $502,000 Position in Copart, Inc. (NASDAQ:CPRT)

May Barnhard Investments LLC purchased a new position in Copart, Inc. (NASDAQ:CPRT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,744 shares of the business services provider's stock, valued at approximately $502,000.

Several other institutional investors have also added to or reduced their stakes in CPRT. Mn Services Vermogensbeheer B.V. grew its holdings in shares of Copart by 2.5% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 339,680 shares of the business services provider's stock worth $19,494,000 after purchasing an additional 8,300 shares during the last quarter. National Pension Service increased its position in shares of Copart by 3.2% in the fourth quarter. National Pension Service now owns 1,558,067 shares of the business services provider's stock valued at $89,417,000 after acquiring an additional 48,334 shares during the period. Kieckhefer Group LLC purchased a new position in shares of Copart in the fourth quarter valued at about $3,962,000. Sanctuary Advisors LLC raised its stake in shares of Copart by 21.2% during the third quarter. Sanctuary Advisors LLC now owns 52,767 shares of the business services provider's stock valued at $2,765,000 after acquiring an additional 9,222 shares during the last quarter. Finally, Cobblestone Capital Advisors LLC NY grew its stake in shares of Copart by 47.4% in the fourth quarter. Cobblestone Capital Advisors LLC NY now owns 393,187 shares of the business services provider's stock worth $22,565,000 after purchasing an additional 126,436 shares during the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

CPRT has been the subject of a number of recent analyst reports. Argus cut Copart from a "buy" rating to a "hold" rating in a report on Friday. JPMorgan Chase & Co. raised their price target on Copart from $55.00 to $60.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 19th.

Insider Buying and Selling at Copart

In related news, Director Matt Blunt sold 50,000 shares of Copart 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of the business's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $56.84, for a total value of $13,384,683.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 315,480 shares of company stock valued at $18,007,983. 9.68% of the stock is currently owned by company insiders.

Copart Stock Performance

Shares of NASDAQ CPRT traded down $0.83 during midday trading on Tuesday, hitting $52.92. 4,044,194 shares of the company traded hands, compared to its average volume of 4,018,884. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38. The stock has a 50-day moving average price of $56.65 and a 200 day moving average price of $56.02. The firm has a market cap of $51.13 billion, a P/E ratio of 35.52 and a beta of 1.30.

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

About Copart

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.