Everence Capital Management Inc. Grows Stock Position in Copart, Inc. (NASDAQ:CPRT)

Everence Capital Management Inc. boosted its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 71.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 35,482 shares of the business services provider’s stock after buying an additional 14,830 shares during the quarter. Everence Capital Management Inc.’s holdings in Copart were worth $1,739,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. OFI Invest Asset Management purchased a new stake in Copart in the third quarter worth $25,000. Manchester Capital Management LLC increased its stake in Copart by 101.0% in the third quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider’s stock worth $27,000 after purchasing an additional 314 shares during the period. Quarry LP purchased a new stake in Copart in the first quarter worth $29,000. Bell Investment Advisors Inc increased its stake in Copart by 87.1% in the third quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider’s stock worth $30,000 after purchasing an additional 323 shares during the period. Finally, Annapolis Financial Services LLC increased its stake in Copart by 100.0% in the third quarter. Annapolis Financial Services LLC now owns 720 shares of the business services provider’s stock worth $31,000 after purchasing an additional 360 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Transactions at Copart

In other news, Chairman A Jayson Adair sold 600,000 shares of the business’s stock in a transaction dated 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 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Thomas N. Tryforos sold 285,000 shares of Copart stock in a transaction dated 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 completion of the sale, the director now owns 35,000 shares of the company’s stock, valued at $1,934,450. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman A Jayson Adair sold 600,000 shares of the business’s stock in a transaction that occurred on 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 985,000 shares of company stock worth $55,519,950. Insiders own 10.23% of the company’s stock.

Analysts Set New Price Targets

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

Copart Price Performance

CPRT opened at $54.41 on Wednesday. The business’s 50-day moving average is $54.20 and its two-hundred day moving average is $49.93. Copart, Inc. has a 1 year low of $38.35 and a 1 year high of $58.58. The firm has a market capitalization of $52.32 billion, a PE ratio of 39.12 and a beta of 1.22.

Copart (NASDAQ:CPRT) last issued 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 business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the firm posted $0.31 EPS. Copart’s revenue was up 6.6% on a year-over-year basis. As a group, sell-side analysts expect that Copart, Inc. will post 1.42 EPS for the current year.

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.