Oppenheimer Asset Management Inc. Grows Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Oppenheimer Asset Management Inc. boosted its position in Copart, Inc. (NASDAQ:CPRT) by 0.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 170,949 shares of the business services provider’s stock after acquiring an additional 731 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Copart were worth $9,811,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CPRT. Bank of New York Mellon Corp grew its stake in Copart by 23.3% in the 4th 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. Jensen Investment Management Inc. grew its stake in Copart by 2,466.0% in the 3rd quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock worth $185,299,000 after acquiring an additional 3,398,423 shares during the period. Franklin Resources Inc. grew its stake in Copart by 335.8% in the 3rd quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock worth $149,471,000 after acquiring an additional 2,084,626 shares during the period. Comgest Global Investors S.A.S. grew its stake in Copart by 706.6% in the 3rd quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock worth $83,153,000 after acquiring an additional 1,390,146 shares during the period. Finally, PineStone Asset Management Inc. grew its stake in Copart by 192.4% in the 4th quarter. PineStone Asset Management Inc. now owns 1,585,400 shares of the business services provider’s stock worth $90,986,000 after acquiring an additional 1,043,200 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Stock Down 1.8 %

Shares of NASDAQ CPRT opened at $55.23 on Friday. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The firm has a fifty day moving average of $57.69 and a 200-day moving average of $55.82. The stock has a market capitalization of $53.22 billion, a PE ratio of 37.07 and a beta of 1.33.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. Copart had a net margin of 32.27% and a return on equity of 19.31%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Equities research analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Activity

In related news, Director Diane M. Morefield sold 30,000 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the completion of the sale, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $1,160,200. This represents a 60.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. Insiders sold 398,790 shares of company stock valued at $23,161,540 in the last ninety days. Company insiders own 9.68% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. boosted their price objective on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th.

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.