Everence Capital Management Inc. Buys 14,830 Shares of Copart, Inc. (NASDAQ:CPRT)

Everence Capital Management Inc. increased its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 71.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 35,482 shares of the business services provider’s stock after buying an additional 14,830 shares during the period. Everence Capital Management Inc.’s holdings in Copart were worth $1,739,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Copart by 100.6% in the 3rd quarter. Vanguard Group Inc. now owns 97,512,662 shares of the business services provider’s stock valued at $4,201,821,000 after buying an additional 48,891,984 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Copart by 96.8% in the 3rd quarter. Principal Financial Group Inc. now owns 39,803,057 shares of the business services provider’s stock valued at $1,715,114,000 after buying an additional 19,576,719 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Copart by 84.4% in the 3rd quarter. Wellington Management Group LLP now owns 17,929,180 shares of the business services provider’s stock valued at $772,568,000 after buying an additional 8,205,757 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Copart by 79.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 17,359,152 shares of the business services provider’s stock valued at $748,006,000 after buying an additional 7,666,881 shares in the last quarter. Finally, FMR LLC raised its position in shares of Copart by 93.6% in the 3rd quarter. FMR LLC now owns 14,733,860 shares of the business services provider’s stock valued at $634,882,000 after buying an additional 7,122,991 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Insider Activity at Copart

In other Copart news, Director Matt Blunt sold 100,000 shares of Copart stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $51.06, for a total transaction of $5,106,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Thomas N. Tryforos sold 285,000 shares of Copart stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total value of $15,751,950.00. Following the transaction, the director now directly owns 35,000 shares of the company’s stock, valued at $1,934,450. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Matt Blunt sold 100,000 shares of Copart stock in a transaction on Monday, February 26th. The stock was sold at an average price of $51.06, for a total transaction of $5,106,000.00. The disclosure for this sale can be found here. Insiders have sold 985,000 shares of company stock valued at $55,519,950 over the last three months. 10.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CPRT. StockNews.com cut shares of Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. upped their price objective on shares of Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $51.00.

Copart Price Performance

Shares of CPRT stock opened at $54.41 on Wednesday. The firm has a 50-day moving average of $54.20 and a 200-day moving average of $49.93. Copart, Inc. has a one year low of $38.35 and a one year high of $58.58. The company has a market cap of $52.32 billion, a P/E ratio of 39.12 and a beta of 1.22.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). Copart had a net margin of 33.41% and a return on equity of 21.55%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the business posted $0.31 earnings per share. Copart’s revenue was up 6.6% compared to the same quarter last year. As a group, research analysts expect that Copart, Inc. will post 1.42 earnings per share for the current fiscal 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.