Intech Investment Management LLC Purchases 490,091 Shares of Copart, Inc. (NASDAQ:CPRT)

Intech Investment Management LLC lifted its position in Copart, Inc. (NASDAQ:CPRT) by 140.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 839,843 shares of the business services provider’s stock after acquiring an additional 490,091 shares during the quarter. Intech Investment Management LLC owned approximately 0.09% of Copart worth $41,152,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CPRT. Vanguard Group Inc. grew its position in Copart by 100.6% during the third quarter. Vanguard Group Inc. now owns 97,512,662 shares of the business services provider’s stock valued at $4,201,821,000 after buying an additional 48,891,984 shares during the period. Norges Bank bought a new position in Copart during the fourth quarter valued at about $463,262,000. Wellington Management Group LLP grew its position in Copart by 84.4% during the third 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. grew its position in Copart by 79.1% during the third quarter. JPMorgan Chase & Co. now owns 17,359,152 shares of the business services provider’s stock valued at $748,006,000 after buying an additional 7,666,881 shares during the period. Finally, FMR LLC grew its position in Copart by 93.6% during the third quarter. FMR LLC now owns 14,733,860 shares of the business services provider’s stock valued at $634,882,000 after buying an additional 7,122,991 shares during the period. Institutional investors own 85.78% of the company’s stock.

Insider Transactions at Copart

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

Copart Stock Performance

NASDAQ CPRT traded up $0.50 during trading on Friday, hitting $54.02. 2,632,294 shares of the company’s stock traded hands, compared to its average volume of 3,864,753. Copart, Inc. has a 12-month low of $42.41 and a 12-month high of $58.58. The stock has a market capitalization of $51.94 billion, a price-to-earnings ratio of 38.04 and a beta of 1.22. The business has a 50 day moving average of $55.50 and a 200-day moving average of $51.84.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, May 16th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. Copart had a net margin of 33.33% and a return on equity of 20.80%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the firm posted $0.36 earnings per share. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, analysts expect that Copart, Inc. will post 1.43 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on CPRT. JPMorgan Chase & Co. upped their price objective on shares of Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, April 8th. StockNews.com downgraded shares of Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $51.00.

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.