MERIAN GLOBAL INVESTORS UK Ltd Buys 102,790 Shares of Copart, Inc. (NASDAQ:CPRT)

MERIAN GLOBAL INVESTORS UK Ltd raised its stake in Copart, Inc. (NASDAQ:CPRT) by 44.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 332,053 shares of the business services provider’s stock after acquiring an additional 102,790 shares during the quarter. MERIAN GLOBAL INVESTORS UK Ltd’s holdings in Copart were worth $30,196,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in CPRT. Venturi Wealth Management LLC bought a new stake in shares of Copart during the third quarter worth $25,000. Prime Capital Investment Advisors LLC bought a new stake in shares of Copart during the third quarter worth $26,000. Financial Advantage Inc. bought a new stake in shares of Copart during the third quarter worth $28,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Copart by 64.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 445 shares of the business services provider’s stock worth $40,000 after purchasing an additional 174 shares during the last quarter. Finally, Advisors Preferred LLC bought a new stake in shares of Copart during the fourth quarter worth $45,000. Hedge funds and other institutional investors own 79.47% of the company’s stock.

In other Copart news, CEO A Jayson Adair sold 327,318 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $90.49, for a total value of $29,619,005.82. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven D. Cohan sold 80,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $92.14, for a total value of $7,371,200.00. Following the completion of the transaction, the director now directly owns 80,000 shares in the company, valued at approximately $7,371,200. The disclosure for this sale can be found here. Insiders have sold 538,785 shares of company stock worth $49,564,503 in the last ninety days. 14.34% of the stock is currently owned by insiders.

Shares of CPRT traded down $0.83 during trading hours on Tuesday, hitting $102.42. 1,996,873 shares of the stock traded hands, compared to its average volume of 1,140,877. The company has a current ratio of 2.30, a quick ratio of 2.24 and a debt-to-equity ratio of 0.27. Copart, Inc. has a 1-year low of $51.99 and a 1-year high of $104.10. The firm has a market capitalization of $24.00 billion, a PE ratio of 35.20 and a beta of 0.79. The business has a fifty day moving average of $98.56 and a 200-day moving average of $86.45.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Wednesday, November 20th. The business services provider reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.06. Copart had a return on equity of 34.06% and a net margin of 32.59%. The business had revenue of $554.40 million for the quarter, compared to analyst estimates of $544.46 million. During the same quarter in the prior year, the firm posted $0.47 earnings per share. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. As a group, equities research analysts expect that Copart, Inc. will post 2.77 earnings per share for the current fiscal year.

Several equities analysts have recently issued reports on CPRT shares. SunTrust Banks upped their price target on Copart from $92.00 to $100.00 and gave the company an “average” rating in a research note on Friday, November 22nd. BidaskClub raised Copart from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Barrington Research reaffirmed a “hold” rating on shares of Copart in a research note on Tuesday. Finally, Guggenheim upped their price target on Copart from $93.00 to $97.00 and gave the company a “buy” rating in a research note on Monday, November 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $85.60.

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.

Recommended Story: How can investors find ex-dividend dates?

Want to see what other hedge funds are holding CPRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Copart, Inc. (NASDAQ:CPRT).

Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

Receive News & Ratings for Copart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Copart and related companies with MarketBeat.com's FREE daily email newsletter.