Davidson Kahn Capital Management LLC Buys Shares of 39,574 Copart, Inc. (NASDAQ:CPRT)

Davidson Kahn Capital Management LLC purchased a new position in Copart, Inc. (NASDAQ:CPRT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 39,574 shares of the business services provider's stock, valued at approximately $2,271,000. Copart makes up about 2.1% of Davidson Kahn Capital Management LLC's portfolio, making the stock its 19th biggest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Principal Financial Group Inc. increased its position in shares of Copart by 2.5% in the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider's stock worth $2,037,130,000 after purchasing an additional 941,858 shares during the last quarter. Barclays PLC grew its stake in Copart by 0.4% in the third quarter. Barclays PLC now owns 6,042,734 shares of the business services provider's stock worth $316,639,000 after purchasing an additional 21,710 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Copart in the third quarter valued at about $317,000. Tidal Investments LLC raised its stake in Copart by 7.8% during the third quarter. Tidal Investments LLC now owns 88,324 shares of the business services provider's stock valued at $4,628,000 after buying an additional 6,421 shares in the last quarter. Finally, Peapack Gladstone Financial Corp lifted its holdings in Copart by 6.5% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 104,650 shares of the business services provider's stock worth $5,484,000 after buying an additional 6,385 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company's stock.

Insider Activity at Copart

In other news, Director Steven D. Cohan sold 5,003 shares of the company's stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $60.01, for a total transaction of $300,230.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James E. Meeks sold 100,000 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total transaction of $5,400,000.00. The disclosure for this sale can be found here. Insiders sold 200,000 shares of company stock worth $11,401,000 in the last 90 days. 9.68% of the stock is currently owned by company insiders.

Copart Stock Performance

Shares of NASDAQ CPRT traded up $0.72 during midday trading on Friday, hitting $61.22. The company's stock had a trading volume of 3,152,111 shares, compared to its average volume of 4,422,009. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38. The firm's fifty day moving average price is $56.64 and its 200-day moving average price is $57.33. The firm has a market cap of $59.14 billion, a P/E ratio of 41.09 and a beta of 1.20.

Copart (NASDAQ:CPRT - Get Free Report) last issued its earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.38 by $0.02. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. As a group, research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Argus lowered Copart from a "buy" rating to a "hold" rating in a research report on Friday, March 14th.

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.