Copart, Inc. (NASDAQ:CPRT) Shares Sold by Torray Investment Partners LLC

Torray Investment Partners LLC decreased its position in Copart, Inc. (NASDAQ:CPRT) by 1.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,183 shares of the business services provider’s stock after selling 2,303 shares during the period. Torray Investment Partners LLC’s holdings in Copart were worth $7,990,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Edgewood Management LLC lifted its holdings in shares of Copart by 14.1% in the 4th quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider’s stock valued at $1,346,548,000 after buying an additional 2,907,405 shares during the period. Fiera Capital Corp grew its holdings in Copart by 195.6% during the first quarter. Fiera Capital Corp now owns 3,992,610 shares of the business services provider’s stock worth $225,942,000 after acquiring an additional 2,642,100 shares during the period. Franklin Resources Inc. raised its position in Copart by 58.8% during the fourth quarter. Franklin Resources Inc. now owns 4,296,060 shares of the business services provider’s stock valued at $246,551,000 after acquiring an additional 1,590,706 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Copart by 3.3% in the 1st quarter. Principal Financial Group Inc. now owns 39,409,377 shares of the business services provider’s stock valued at $2,230,177,000 after purchasing an additional 1,249,687 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Copart by 6,774.3% in the first quarter. GAMMA Investing LLC now owns 1,151,720 shares of the business services provider’s stock worth $65,176,000 after acquiring an additional 1,134,966 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analyst Ratings Changes

CPRT has been the topic of a number of analyst reports. JPMorgan Chase & Co. dropped their target price on Copart from $60.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, May 23rd. Robert W. Baird decreased their target price on Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, July 17th. Finally, Stephens initiated coverage on shares of Copart in a research note on Tuesday, July 8th. They issued an “equal weight” rating and a $50.00 price target on the stock.

Copart Trading Down 0.4%

NASDAQ:CPRT opened at $46.28 on Thursday. The stock has a 50 day moving average of $48.94 and a two-hundred day moving average of $54.74. Copart, Inc. has a 12 month low of $45.52 and a 12 month high of $64.38. The firm has a market cap of $44.75 billion, a P/E ratio of 30.45 and a beta of 1.07.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.23 billion. Copart had a net margin of 32.21% and a return on equity of 18.20%. Copart’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.39 EPS. On average, research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Jeffrey Liaw sold 24,088 shares of Copart stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the transaction, the chief executive officer owned 31,527 shares in the company, valued at $1,463,798.61. The trade was a 43.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 9.68% of the company’s stock.

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.