Everence Capital Management Inc. Decreases Position in Copart, Inc. (NASDAQ:CPRT)

Everence Capital Management Inc. reduced its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 11.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 31,382 shares of the business services provider’s stock after selling 4,100 shares during the quarter. Everence Capital Management Inc.’s holdings in Copart were worth $1,801,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Jensen Investment Management Inc. grew its holdings in Copart by 2,466.0% during the 3rd quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock valued at $185,299,000 after purchasing an additional 3,398,423 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Copart by 462.8% during the third quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock valued at $192,240,000 after acquiring an additional 3,016,795 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Copart by 335.8% during the third 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 last quarter. Comgest Global Investors S.A.S. boosted its holdings in Copart by 706.6% in the third quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock valued at $83,153,000 after purchasing an additional 1,390,146 shares during the last quarter. Finally, Kimelman & Baird LLC acquired a new stake in Copart during the 2nd quarter valued at approximately $70,307,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Thomas N. Tryforos sold 83,310 shares of Copart stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $61.86, for a total value of $5,153,556.60. Following the completion of the transaction, the director now directly owns 7,850 shares of the company’s stock, valued at approximately $485,601. The trade was a 91.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman A Jayson Adair sold 251,423 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the sale, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. This represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 364,733 shares of company stock valued at $22,932,130 over the last 90 days. 9.68% of the stock is owned by company insiders.

Analyst Ratings Changes

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

Copart Stock Performance

Shares of Copart stock opened at $56.91 on Friday. The firm has a market cap of $54.83 billion, a PE ratio of 40.08 and a beta of 1.31. Copart, Inc. has a 1 year low of $46.21 and a 1 year high of $64.38. The firm’s 50-day simple moving average is $58.44 and its 200-day simple moving average is $54.58.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.37. Copart had a return on equity of 18.96% and a net margin of 31.92%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the firm posted $0.34 earnings per share. Copart’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, equities analysts predict that Copart, Inc. will post 1.57 earnings per share for the current 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.