Copart, Inc. (NASDAQ:CPRT) Shares Sold by Artemis Investment Management LLP

Artemis Investment Management LLP cut its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 26.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 611,627 shares of the business services provider's stock after selling 219,885 shares during the period. Artemis Investment Management LLP owned 0.06% of Copart worth $34,612,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Transcend Capital Advisors LLC increased its position in Copart by 1.6% during the 1st quarter. Transcend Capital Advisors LLC now owns 13,941 shares of the business services provider's stock valued at $789,000 after buying an additional 220 shares in the last quarter. Park Place Capital Corp raised its position in shares of Copart by 48.6% in the 1st quarter. Park Place Capital Corp now owns 38,756 shares of the business services provider's stock valued at $2,193,000 after purchasing an additional 12,682 shares during the last quarter. CNB Bank boosted its stake in Copart by 11.1% in the 1st quarter. CNB Bank now owns 11,563 shares of the business services provider's stock worth $654,000 after purchasing an additional 1,156 shares in the last quarter. First Merchants Corp grew its position in Copart by 3.3% during the 1st quarter. First Merchants Corp now owns 127,116 shares of the business services provider's stock worth $7,193,000 after purchasing an additional 4,118 shares during the last quarter. Finally, Perpetual Ltd increased its stake in Copart by 12.3% during the 1st quarter. Perpetual Ltd now owns 203,063 shares of the business services provider's stock valued at $11,491,000 after purchasing an additional 22,311 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company's stock.

Copart Trading Up 1.8%

NASDAQ CPRT traded up $0.89 on Monday, hitting $49.07. 4,568,398 shares of the company's stock traded hands, compared to its average volume of 4,855,755. The firm's 50-day moving average price is $55.42 and its two-hundred day moving average price is $56.43. The firm has a market capitalization of $47.45 billion, a PE ratio of 32.28 and a beta of 1.10. Copart, Inc. has a 1-year low of $47.33 and a 1-year high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last posted its earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.42. Copart had a net margin of 32.21% and a return on equity of 18.20%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the firm posted $0.39 earnings per share. The firm's quarterly revenue was up 7.5% on a year-over-year basis. On average, research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Argus lowered shares of Copart from a "buy" rating to a "hold" rating in a report on Friday, March 14th. JPMorgan Chase & Co. dropped their price target on Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd.

Insider Activity

In other Copart news, Director Steven D. Cohan sold 94,997 shares of the business's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $60.01, for a total value of $5,700,769.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 9.68% of the company's stock.

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.