New York Life Investment Management LLC Trims Stock Position in Copart, Inc. (NASDAQ:CPRT)

New York Life Investment Management LLC decreased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 33.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 123,478 shares of the business services provider’s stock after selling 63,223 shares during the quarter. New York Life Investment Management LLC’s holdings in Copart were worth $6,050,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Savant Capital LLC raised its position in Copart by 3.8% in the 4th quarter. Savant Capital LLC now owns 6,933 shares of the business services provider’s stock valued at $340,000 after purchasing an additional 251 shares during the last quarter. Brighton Jones LLC increased its stake in Copart by 9.1% in the fourth quarter. Brighton Jones LLC now owns 9,032 shares of the business services provider’s stock valued at $443,000 after purchasing an additional 754 shares during the period. Van ECK Associates Corp raised its holdings in shares of Copart by 6.4% in the fourth quarter. Van ECK Associates Corp now owns 133,970 shares of the business services provider’s stock valued at $6,565,000 after buying an additional 8,113 shares during the last quarter. Choreo LLC boosted its stake in shares of Copart by 2.0% during the fourth quarter. Choreo LLC now owns 23,244 shares of the business services provider’s stock worth $1,139,000 after buying an additional 462 shares during the period. Finally, Mather Group LLC. grew its holdings in shares of Copart by 12.5% during the fourth quarter. Mather Group LLC. now owns 9,537 shares of the business services provider’s stock worth $467,000 after buying an additional 1,060 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Trading Up 1.5 %

Shares of CPRT opened at $55.20 on Friday. The stock’s 50 day moving average is $55.40 and its two-hundred day moving average is $50.72. Copart, Inc. has a twelve month low of $39.06 and a twelve month high of $58.58. The firm has a market capitalization of $53.07 billion, a PE ratio of 39.71 and a beta of 1.22.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share 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 business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the firm earned $0.31 earnings per share. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, sell-side analysts predict that Copart, Inc. will post 1.42 EPS for the current year.

Insider Transactions at Copart

In other Copart news, Chairman A Jayson Adair sold 600,000 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value of $34,662,000.00. Following the completion of the transaction, the chairman now directly owns 19,687,980 shares of the company’s stock, valued at $1,137,374,604.60. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Thomas N. Tryforos sold 285,000 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 35,000 shares in the company, valued at approximately $1,934,450. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman A Jayson Adair sold 600,000 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the completion of the sale, the chairman now directly owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The disclosure for this sale can be found here. Insiders have sold a total of 985,000 shares of company stock valued at $55,519,950 in the last ninety days. 10.23% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on CPRT. JPMorgan Chase & Co. upped their price objective on Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. StockNews.com downgraded Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $51.00.

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.