Novem Group Buys Shares of 14,332 Copart, Inc. (NASDAQ:CPRT)

Novem Group acquired a new stake in Copart, Inc. (NASDAQ:CPRT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 14,332 shares of the business services provider's stock, valued at approximately $823,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in Copart by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 102,129,032 shares of the business services provider's stock valued at $5,861,185,000 after buying an additional 976,909 shares during the period. Edgewood Management LLC increased its position in shares of Copart by 14.1% during the fourth quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider's stock worth $1,346,548,000 after acquiring an additional 2,907,405 shares during the period. Capital World Investors raised its stake in shares of Copart by 0.8% in the fourth quarter. Capital World Investors now owns 21,353,932 shares of the business services provider's stock valued at $1,225,502,000 after acquiring an additional 169,354 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Copart by 23.3% in the fourth quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider's stock valued at $1,115,664,000 after purchasing an additional 3,667,534 shares during the period. Finally, Geode Capital Management LLC grew its stake in Copart by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 19,172,603 shares of the business services provider's stock worth $1,097,153,000 after purchasing an additional 408,677 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company's stock.

Wall Street Analysts Forecast Growth

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

Copart Trading Down 0.9%

Copart stock opened at $61.09 on Thursday. The company has a fifty day simple moving average of $58.75 and a 200-day simple moving average of $58.18. The stock has a market cap of $59.02 billion, a P/E ratio of 41.00 and a beta of 1.20. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38.

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

Insider Activity at Copart

In related news, Director Steven D. Cohan sold 94,997 shares of the business's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $60.01, for a total value of $5,700,769.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James E. Meeks sold 100,000 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total value of $5,400,000.00. The disclosure for this sale can be found here. Insiders sold 200,000 shares of company stock valued at $11,401,000 over the last three months. 9.68% of the stock is owned by corporate insiders.

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.

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