National Bank of Canada FI Acquires 613,831 Shares of Copart, Inc. (NASDAQ:CPRT)

National Bank of Canada FI lifted its holdings in Copart, Inc. (NASDAQ:CPRT) by 83.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,345,134 shares of the business services provider’s stock after purchasing an additional 613,831 shares during the quarter. National Bank of Canada FI owned about 0.14% of Copart worth $63,903,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CPRT. Nordea Investment Management AB boosted its position in shares of Copart by 64.1% during the fourth quarter. Nordea Investment Management AB now owns 1,441,839 shares of the business services provider’s stock worth $70,448,000 after buying an additional 563,233 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Copart by 1.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,848,048 shares of the business services provider’s stock worth $139,554,000 after acquiring an additional 44,248 shares in the last quarter. CHURCHILL MANAGEMENT Corp raised its holdings in shares of Copart by 57.9% in the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 63,521 shares of the business services provider’s stock valued at $3,113,000 after purchasing an additional 23,304 shares during the last quarter. Artemis Investment Management LLP lifted its position in shares of Copart by 29.0% in the fourth quarter. Artemis Investment Management LLP now owns 1,167,186 shares of the business services provider’s stock worth $57,193,000 after purchasing an additional 262,499 shares in the last quarter. Finally, Checchi Capital Advisers LLC boosted its holdings in Copart by 72.5% during the third quarter. Checchi Capital Advisers LLC now owns 6,228 shares of the business services provider’s stock worth $268,000 after purchasing an additional 2,618 shares during the last quarter. 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 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 sale, the chairman now owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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 transaction of $34,662,000.00. Following the sale, the chairman now directly owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas N. Tryforos sold 285,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the sale, the director now directly owns 35,000 shares of the company’s stock, valued at approximately $1,934,450. 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 three months. 10.23% of the stock is currently owned by company insiders.

Copart Price Performance

NASDAQ CPRT traded up $0.80 during trading on Friday, reaching $55.20. 5,285,026 shares of the company’s stock were exchanged, compared to its average volume of 3,813,627. Copart, Inc. has a fifty-two week low of $39.06 and a fifty-two week high of $58.58. The stock has a market capitalization of $53.07 billion, a P/E ratio of 39.71 and a beta of 1.22. The business has a 50 day moving average price of $55.40 and a 200-day moving average price of $50.75.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. Copart had a net margin of 33.41% and a return on equity of 21.55%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.31 EPS. On average, analysts forecast that Copart, Inc. will post 1.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented 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. increased their price target on Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Copart currently has an average rating of “Hold” and an average 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.