Northwest & Ethical Investments L.P. Sells 37,026 Shares of Copart, Inc. (NASDAQ:CPRT)

Northwest & Ethical Investments L.P. trimmed its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 87.5% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 5,268 shares of the business services provider's stock after selling 37,026 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Copart were worth $276,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Jensen Investment Management Inc. lifted its stake in Copart by 2,466.0% in the third quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider's stock valued at $185,299,000 after buying an additional 3,398,423 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Copart by 462.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider's stock valued at $192,240,000 after acquiring an additional 3,016,795 shares during the period. Manning & Napier Advisors LLC acquired a new position in Copart during the second quarter valued at approximately $109,382,000. Comgest Global Investors S.A.S. grew its holdings in Copart by 706.6% during the third quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider's stock valued at $83,153,000 after purchasing an additional 1,390,146 shares during the period. Finally, Kimelman & Baird LLC bought a new stake in Copart in the second quarter valued at approximately $70,307,000. Institutional investors own 85.78% of the company's stock.

Insider Activity

In related news, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction that occurred on 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 transaction, the chairman now directly owns 14,436,557 shares of the company's stock, valued at $920,907,971.03. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.68% of the stock is currently owned by insiders.

Copart Stock Performance

NASDAQ CPRT traded down $0.12 on Friday, reaching $63.39. The company had a trading volume of 2,414,853 shares, compared to its average volume of 4,717,099. The company's fifty day moving average is $55.06 and its 200-day moving average is $53.50. The firm has a market capitalization of $61.08 billion, a price-to-earnings ratio of 44.64 and a beta of 1.27. 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 data on Wednesday, September 4th. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). Copart had a net margin of 31.92% and a return on equity of 18.96%. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the business earned $0.34 EPS. The company's revenue was up 7.2% compared to the same quarter last year. On average, research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CPRT. Robert W. Baird decreased their price target on shares of Copart from $58.00 to $56.00 and set an "outperform" rating for the company in a report on Thursday, September 5th. JPMorgan Chase & Co. boosted their target price on Copart from $55.00 to $60.00 and gave the company a "neutral" rating in a research note on Tuesday, November 19th.

Copart Company 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.