NEOS Investment Management LLC Boosts Holdings in Copart, Inc. (NASDAQ:CPRT)

NEOS Investment Management LLC grew its position in shares of Copart, Inc. (NASDAQ:CPRT) by 28.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 131,886 shares of the business services provider’s stock after buying an additional 29,442 shares during the period. NEOS Investment Management LLC’s holdings in Copart were worth $7,569,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Copart by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 102,129,032 shares of the business services provider’s stock worth $5,861,185,000 after purchasing an additional 976,909 shares in the last quarter. Principal Financial Group Inc. increased its position in Copart by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock worth $2,037,130,000 after purchasing an additional 941,858 shares during the period. State Street Corp raised its stake in shares of Copart by 0.4% during the 3rd quarter. State Street Corp now owns 34,157,967 shares of the business services provider’s stock worth $1,789,877,000 after buying an additional 120,939 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of 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 valued at $1,115,664,000 after buying an additional 3,667,534 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Copart by 1.6% in the third quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider’s stock valued at $979,547,000 after buying an additional 291,580 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Trading Down 0.9 %

CPRT stock opened at $55.07 on Thursday. The company’s 50-day moving average price is $56.38 and its 200 day moving average price is $56.10. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38. The company has a market cap of $53.20 billion, a P/E ratio of 36.96 and a beta of 1.30.

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

Insiders Place Their Bets

In other news, Director James E. Meeks sold 100,000 shares of Copart stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total transaction of $5,400,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matt Blunt sold 50,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total transaction of $2,883,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 385,480 shares of company stock worth $21,667,683. 9.68% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

About Copart

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.