Voya Investment Management LLC Sells 45,072 Shares of Copart, Inc. $CPRT

Voya Investment Management LLC trimmed its position in shares of Copart, Inc. (NASDAQ:CPRT) by 18.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 201,266 shares of the business services provider’s stock after selling 45,072 shares during the quarter. Voya Investment Management LLC’s holdings in Copart were worth $9,051,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CPRT. Brighton Jones LLC grew its position in Copart by 92.1% during the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock valued at $816,000 after acquiring an additional 6,817 shares during the last quarter. AlphaQuest LLC boosted its stake in shares of Copart by 1,796.7% in the 1st quarter. AlphaQuest LLC now owns 11,399 shares of the business services provider’s stock valued at $645,000 after purchasing an additional 10,798 shares in the last quarter. ICONIQ Capital LLC grew its holdings in shares of Copart by 32.5% during the 1st quarter. ICONIQ Capital LLC now owns 4,928 shares of the business services provider’s stock valued at $279,000 after purchasing an additional 1,210 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in Copart by 12,439.4% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 507,971 shares of the business services provider’s stock worth $28,746,000 after purchasing an additional 503,920 shares during the period. Finally, Harvest Portfolios Group Inc. lifted its stake in Copart by 17.8% in the first quarter. Harvest Portfolios Group Inc. now owns 31,674 shares of the business services provider’s stock worth $1,792,000 after purchasing an additional 4,776 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Transactions at Copart

In other news, CEO Jeffrey Liaw sold 24,283 shares of Copart stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the completion of the transaction, the chief executive officer directly owned 31,332 shares in the company, valued at approximately $1,403,360.28. This trade represents a 43.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas N. Tryforos sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total value of $3,907,000.00. The SEC filing for this sale provides additional information. Company insiders own 9.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CPRT shares. Hsbc Global Res raised Copart from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 4th. CJS Securities upgraded Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Copart in a research report on Wednesday, October 8th. Barclays reissued an “underweight” rating and set a $33.00 price objective (up previously from $32.00) on shares of Copart in a research note on Friday, November 21st. Finally, HSBC set a $62.00 target price on shares of Copart and gave the stock a “buy” rating in a research note on Thursday, September 4th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $47.60.

Copart Stock Down 0.5%

Shares of CPRT stock opened at $39.15 on Wednesday. The stock has a fifty day moving average of $41.02 and a 200 day moving average of $45.00. The firm has a market capitalization of $37.90 billion, a price-to-earnings ratio of 23.87 and a beta of 1.12. Copart, Inc. has a 52 week low of $38.18 and a 52 week high of $63.85.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, November 20th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. Copart had a net margin of 34.24% and a return on equity of 17.78%. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the company earned $0.37 earnings per share. Copart’s quarterly revenue was up .7% on a year-over-year basis. Equities research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Copart Company Profile

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.