Norris Perne & French LLP MI Has $1.53 Million Stock Position in Copart, Inc. (NASDAQ:CPRT)

Norris Perne & French LLP MI lowered its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 11.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 31,166 shares of the business services provider’s stock after selling 4,200 shares during the period. Norris Perne & French LLP MI’s holdings in Copart were worth $1,527,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Copart by 1,212.2% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,110 shares of the business services provider’s stock worth $390,000 after purchasing an additional 2,873 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in Copart by 14.6% in the 1st quarter. Panagora Asset Management Inc. now owns 8,456 shares of the business services provider’s stock worth $1,061,000 after purchasing an additional 1,079 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in Copart by 52.1% in the 1st quarter. Vontobel Holding Ltd. now owns 10,823 shares of the business services provider’s stock worth $1,380,000 after purchasing an additional 3,707 shares in the last quarter. National Pension Service increased its holdings in Copart by 5.0% in the 1st quarter. National Pension Service now owns 286,903 shares of the business services provider’s stock worth $35,998,000 after purchasing an additional 13,666 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Copart by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 22,968,882 shares of the business services provider’s stock worth $2,881,905,000 after purchasing an additional 270,867 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analysts Set New Price Targets

CPRT has been the subject of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on Copart in a report on Tuesday, February 27th. They issued a “neutral” rating and a $48.00 target price for the company. HSBC initiated coverage on Copart in a research report on Monday, December 4th. They issued a “hold” rating and a $51.00 price target on the stock. Finally, StockNews.com lowered Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $50.00.

Insider Buying and Selling

In related news, Chairman A Jayson Adair sold 600,000 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the transaction, the chairman now directly owns 19,687,980 shares of the company’s stock, valued at approximately $1,137,374,604.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Chairman A Jayson Adair sold 600,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total value of $34,662,000.00. Following the completion of the sale, the chairman now directly owns 19,687,980 shares of the company’s stock, valued at $1,137,374,604.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Matt Blunt sold 100,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $51.06, for a total value of $5,106,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,305,000 shares of company stock valued at $70,572,750. 10.23% of the stock is owned by company insiders.

Copart Price Performance

Shares of Copart stock opened at $57.60 on Tuesday. The stock’s 50-day moving average is $52.68 and its 200 day moving average is $48.96. Copart, Inc. has a one year low of $36.78 and a one year high of $58.58. The firm has a market cap of $55.38 billion, a price-to-earnings ratio of 41.78 and a beta of 1.22.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). Copart had a return on equity of 21.55% and a net margin of 33.41%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company posted $0.31 earnings per share. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, sell-side analysts expect that Copart, Inc. will post 1.42 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.