Nuveen Asset Management LLC Reduces Stock Position in Copart, Inc. (NASDAQ:CPRT)

Nuveen Asset Management LLC cut its stake in Copart, Inc. (NASDAQ:CPRT) by 2.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,738,007 shares of the business services provider’s stock after selling 140,585 shares during the period. Nuveen Asset Management LLC’s holdings in Copart were worth $271,914,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in CPRT. Norges Bank purchased a new stake in shares of Copart in the fourth quarter valued at approximately $682,089,000. Madison Investment Advisors LLC purchased a new position in Copart in the fourth quarter worth approximately $253,686,000. Bank of New York Mellon Corp grew its position in Copart by 23.3% in the fourth quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider’s stock worth $1,115,664,000 after acquiring an additional 3,667,534 shares during the period. Edgewood Management LLC grew its position in Copart by 14.1% in the fourth quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider’s stock worth $1,346,548,000 after acquiring an additional 2,907,405 shares during the period. Finally, Wellington Management Group LLP grew its position in Copart by 14.4% in the fourth quarter. Wellington Management Group LLP now owns 14,157,306 shares of the business services provider’s stock worth $812,488,000 after acquiring an additional 1,785,741 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Steven D. Cohan sold 5,003 shares of the stock in a transaction on Friday, April 11th. The stock was sold at an average price of $60.01, for a total value of $300,230.03. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James E. Meeks sold 100,000 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total value of $5,400,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 200,000 shares of company stock worth $11,401,000. Corporate insiders own 9.68% of the company’s stock.

Copart Stock Up 0.0%

NASDAQ:CPRT opened at $62.42 on Thursday. The stock’s fifty day moving average is $57.77 and its two-hundred day moving average is $57.81. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38. The stock has a market capitalization of $60.30 billion, a price-to-earnings ratio of 41.89 and a beta of 1.20.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. On average, sell-side analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Argus lowered Copart from a “buy” rating to a “hold” rating in a research report on Friday, March 14th.

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.