Copart, Inc. (NASDAQ:CPRT) Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board grew its stake in Copart, Inc. (NASDAQ:CPRT) by 12.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,340 shares of the business services provider’s stock after purchasing an additional 4,500 shares during the period. Public Sector Pension Investment Board’s holdings in Copart were worth $2,061,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Kinsale Capital Group Inc. grew its position in Copart by 17.7% in 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 buying an additional 13,554 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Copart in the 2nd quarter worth $5,418,000. Assenagon Asset Management S.A. boosted its holdings in shares of Copart by 263.0% in the second quarter. Assenagon Asset Management S.A. now owns 651,901 shares of the business services provider’s stock valued at $35,307,000 after acquiring an additional 472,318 shares in the last quarter. Anthracite Investment Company Inc. acquired a new position in shares of Copart during the third quarter worth about $2,358,000. Finally, Envestnet Portfolio Solutions Inc. raised its holdings 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 worth $7,193,000 after purchasing an additional 12,025 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CPRT shares. Robert W. Baird reduced their price target on 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. increased 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.

Copart Trading Down 1.7 %

CPRT stock opened at $61.91 on Friday. Copart, Inc. has a 52 week low of $46.21 and a 52 week high of $64.38. The company has a market cap of $59.65 billion, a P/E ratio of 44.35 and a beta of 1.31. The company’s 50-day moving average price is $55.68 and its 200 day moving average price is $53.66.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. Copart had a return on equity of 18.96% and a net margin of 31.92%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the company posted $0.34 EPS. The business’s revenue was up 12.4% on a year-over-year basis. On average, equities research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Activity at Copart

In related news, Chairman A Jayson Adair sold 251,423 shares of the 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 sale, the chairman now owns 14,436,557 shares of the company’s stock, valued at $920,907,971.03. This trade 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 is available at the SEC website. 9.68% of the stock is owned by corporate insiders.

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.