Worldquant Millennium Advisors LLC Invests $5.46 Million in Copart, Inc. (NASDAQ:CPRT)

Worldquant Millennium Advisors LLC bought a new position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 104,103 shares of the business services provider's stock, valued at approximately $5,455,000.

Several other institutional investors have also recently made changes to their positions in CPRT. Kinsale Capital Group Inc. lifted its position in Copart by 17.7% during the 3rd quarter. Kinsale Capital Group Inc. now owns 89,979 shares of the business services provider's stock valued at $4,715,000 after acquiring an additional 13,554 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Copart during the second quarter valued at approximately $5,418,000. Assenagon Asset Management S.A. boosted its position in shares of Copart by 263.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 651,901 shares of the business services provider's stock worth $35,307,000 after purchasing an additional 472,318 shares in the last quarter. Anthracite Investment Company Inc. purchased a new stake in shares of Copart in the 3rd quarter worth approximately $2,358,000. Finally, Envestnet Portfolio Solutions Inc. raised its stake in Copart by 10.0% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 132,811 shares of the business services provider's stock valued at $7,193,000 after buying an additional 12,025 shares during the last quarter. Institutional investors own 85.78% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CPRT. JPMorgan Chase & Co. raised their price target on Copart from $55.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, November 19th. Robert W. Baird decreased their target price 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.

Insider Activity

In related news, Chairman A Jayson Adair sold 251,423 shares of the company's stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the completion of the sale, the chairman now owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.68% of the stock is owned by corporate insiders.

Copart Stock Performance

Shares of CPRT stock traded up $0.17 during mid-day trading on Friday, hitting $62.08. The company's stock had a trading volume of 2,905,943 shares, compared to its average volume of 4,609,977. The stock has a market cap of $59.82 billion, a price-to-earnings ratio of 43.72 and a beta of 1.31. Copart, Inc. has a 52-week low of $46.21 and a 52-week high of $64.38. The business has a 50-day moving average price of $56.07 and a 200 day moving average price of $53.76.

Copart (NASDAQ:CPRT - Get Free Report) last issued its earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, hitting analysts' consensus estimates of $0.37. The business had revenue of $1.15 billion during 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%. Copart's revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.34 EPS. Equities research analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

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.