Fidelis Capital Partners LLC Raises Stake in Copart, Inc. (NASDAQ:CPRT)

Fidelis Capital Partners LLC increased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 13.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,421 shares of the business services provider’s stock after buying an additional 1,448 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Copart were worth $609,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Copart by 100.6% during the 3rd quarter. Vanguard Group Inc. now owns 97,512,662 shares of the business services provider’s stock worth $4,201,821,000 after acquiring an additional 48,891,984 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Copart by 96.8% in the 3rd quarter. Principal Financial Group Inc. now owns 39,803,057 shares of the business services provider’s stock worth $1,715,114,000 after acquiring an additional 19,576,719 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Copart by 84.4% during the 3rd quarter. Wellington Management Group LLP now owns 17,929,180 shares of the business services provider’s stock valued at $772,568,000 after buying an additional 8,205,757 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Copart by 79.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,359,152 shares of the business services provider’s stock worth $748,006,000 after purchasing an additional 7,666,881 shares during the last quarter. Finally, FMR LLC increased its stake in Copart by 93.6% in the third quarter. FMR LLC now owns 14,733,860 shares of the business services provider’s stock valued at $634,882,000 after acquiring an additional 7,122,991 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on CPRT shares. JPMorgan Chase & Co. upped their target price on shares of Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. StockNews.com lowered Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $51.00.

Insider Transactions at Copart

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 value of $34,662,000.00. Following the sale, the chairman now directly owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Thomas N. Tryforos sold 285,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total value of $15,751,950.00. Following the sale, the director now owns 35,000 shares in the company, valued at approximately $1,934,450. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman A Jayson Adair sold 600,000 shares of Copart stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value of $34,662,000.00. Following the transaction, the chairman now owns 19,687,980 shares of the company’s stock, valued at approximately $1,137,374,604.60. The disclosure for this sale can be found here. Insiders sold 985,000 shares of company stock worth $55,519,950 over the last ninety days. 10.23% of the stock is owned by insiders.

Copart Trading Down 0.5 %

CPRT traded down $0.26 on Friday, reaching $52.94. The stock had a trading volume of 1,016,038 shares, compared to its average volume of 4,575,186. The firm has a 50-day moving average of $54.31 and a 200-day moving average of $49.98. Copart, Inc. has a fifty-two week low of $38.35 and a fifty-two week high of $58.58. The company has a market capitalization of $50.90 billion, a price-to-earnings ratio of 38.27 and a beta of 1.22.

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

Copart 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.