Geneva Capital Management LLC Cuts Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Geneva Capital Management LLC cut its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 10.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,054,487 shares of the business services provider’s stock after selling 120,261 shares during the period. Geneva Capital Management LLC owned 0.11% of Copart worth $51,670,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. National Pension Service grew its stake in Copart by 1.4% during the fourth quarter. National Pension Service now owns 1,483,520 shares of the business services provider’s stock worth $72,692,000 after buying an additional 20,820 shares during the period. Picton Mahoney Asset Management increased its holdings in Copart by 15.4% in the 4th quarter. Picton Mahoney Asset Management now owns 447,543 shares of the business services provider’s stock valued at $21,929,000 after purchasing an additional 59,735 shares in the last quarter. Everpar Advisors LLC purchased a new position in Copart in the fourth quarter valued at about $376,000. Gryphon Financial Partners LLC acquired a new position in shares of Copart during the fourth quarter worth about $114,000. Finally, Sawgrass Asset Management LLC boosted its position in shares of Copart by 32.0% in the fourth quarter. Sawgrass Asset Management LLC now owns 160,712 shares of the business services provider’s stock worth $7,875,000 after buying an additional 38,946 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Copart

In other news, Chairman A Jayson Adair sold 600,000 shares of Copart 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 approximately $1,137,374,604.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Chairman A Jayson Adair sold 600,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the completion of the transaction, the chairman now owns 19,687,980 shares in the company, valued at approximately $1,137,374,604.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas N. Tryforos sold 285,000 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total value of $15,751,950.00. Following the completion of the sale, the director now directly owns 35,000 shares in the company, valued at $1,934,450. The disclosure for this sale can be found here. Insiders sold a total of 985,000 shares of company stock worth $55,519,950 over the last 90 days. Insiders own 10.23% of the company’s stock.

Copart Trading Up 0.2 %

NASDAQ CPRT traded up $0.10 during mid-day trading on Thursday, reaching $55.26. 3,365,242 shares of the company’s stock traded hands, compared to its average volume of 4,476,637. Copart, Inc. has a 1-year low of $39.62 and a 1-year high of $58.58. The company has a fifty day simple moving average of $55.57 and a 200-day simple moving average of $50.98. The company has a market cap of $53.13 billion, a price-to-earnings ratio of 39.76 and a beta of 1.22.

Copart (NASDAQ:CPRT) last released 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 return on equity of 21.55% and a net margin of 33.41%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the business posted $0.31 EPS. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. Equities research analysts forecast that Copart, Inc. will post 1.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.