USS Investment Management Ltd Lowers Holdings in Copart, Inc. (NASDAQ:CPRT)

USS Investment Management Ltd lessened its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 13.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 171,853 shares of the business services provider's stock after selling 27,158 shares during the period. USS Investment Management Ltd's holdings in Copart were worth $9,864,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Waverly Advisors LLC bought a new position in Copart in the fourth quarter worth approximately $493,000. Worldquant Millennium Advisors LLC increased its position in shares of Copart by 430.0% during the fourth quarter. Worldquant Millennium Advisors LLC now owns 551,786 shares of the business services provider's stock worth $31,667,000 after purchasing an additional 447,683 shares in the last quarter. Woodline Partners LP acquired a new position in shares of Copart during the fourth quarter worth $3,021,000. Sovereign s Capital Management LLC acquired a new position in shares of Copart during the fourth quarter worth $462,000. Finally, Tidal Investments LLC increased its position in shares of Copart by 10.8% during the fourth quarter. Tidal Investments LLC now owns 97,846 shares of the business services provider's stock worth $5,615,000 after purchasing an additional 9,522 shares in the last quarter. Institutional investors own 85.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CPRT. Argus downgraded Copart from a "buy" rating to a "hold" rating in a research report on Friday, March 14th. JPMorgan Chase & Co. reduced their price target on Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday.

Copart Trading Down 11.5%

Shares of CPRT stock traded down $6.99 during trading hours on Friday, reaching $53.67. 20,806,337 shares of the company's stock were exchanged, compared to its average volume of 4,519,197. The stock's 50 day moving average is $58.90 and its 200-day moving average is $58.26. The company has a market cap of $51.85 billion, a price-to-earnings ratio of 36.02 and a beta of 1.20. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, meeting analysts' consensus estimates of $0.42. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.23 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. The business's quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.39 earnings per share. Equities analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Insider Activity

In other news, Director James E. Meeks sold 100,000 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total transaction of $5,400,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Steven D. Cohan sold 5,003 shares of the business's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $60.01, for a total transaction of $300,230.03. The disclosure for this sale can be found here. Insiders have sold 200,000 shares of company stock valued at $11,401,000 over the last ninety days. 9.68% of the stock is currently owned by 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.