Toronto Dominion Bank Reduces Position in Copart, Inc. (NASDAQ:CPRT)

Toronto Dominion Bank cut its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 3.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 431,083 shares of the business services provider's stock after selling 14,101 shares during the period. Toronto Dominion Bank's holdings in Copart were worth $22,589,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in shares of Copart by 2.5% in the third 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 during the last quarter. State Street Corp boosted its position in Copart by 0.4% during the 3rd quarter. State Street Corp now owns 34,157,967 shares of the business services provider's stock valued at $1,789,877,000 after buying an additional 120,939 shares during the period. Edgewood Management LLC grew its holdings in Copart by 0.6% in the 3rd quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider's stock worth $1,077,119,000 after acquiring an additional 125,220 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Copart by 1.6% in the third quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider's stock valued at $979,547,000 after acquiring an additional 291,580 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Copart by 8.1% during the second quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider's stock valued at $867,017,000 after acquiring an additional 1,199,781 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CPRT. JPMorgan Chase & Co. lifted their price objective 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 cut their price target on shares of Copart from $58.00 to $56.00 and set an "outperform" rating on the stock in a report on Thursday, September 5th.

Copart Price Performance

CPRT traded down $0.85 on Friday, hitting $61.23. The company had a trading volume of 2,702,553 shares, compared to its average volume of 4,429,008. Copart, Inc. has a 52-week low of $46.21 and a 52-week high of $64.38. The stock has a fifty day simple moving average of $57.01 and a 200-day simple moving average of $54.03. The firm has a market capitalization of $59.00 billion, a P/E ratio of 43.12 and a beta of 1.31.

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 for the quarter, meeting the consensus estimate of $0.37. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The firm's revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 earnings per share. Equities research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Transactions at Copart

In related news, Director Thomas N. Tryforos sold 83,310 shares of the company's stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $61.86, for a total value of $5,153,556.60. Following the sale, the director now owns 7,850 shares in the company, valued at $485,601. This represents a 91.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total value of $16,038,273.17. Following the transaction, the chairman now 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 position. The disclosure for this sale can be found here. Insiders own 9.68% of the company's stock.

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.