JARISLOWSKY FRASER Ltd Sells 302,026 Shares of Copart, Inc. (NASDAQ:CPRT)

JARISLOWSKY FRASER Ltd cut its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 7.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,865,070 shares of the business services provider's stock after selling 302,026 shares during the period. JARISLOWSKY FRASER Ltd owned about 0.40% of Copart worth $219,733,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CPRT. Norges Bank acquired a new stake in Copart in the fourth quarter worth $682,089,000. Madison Investment Advisors LLC acquired a new stake in shares of Copart during the fourth quarter worth $253,686,000. Bank of New York Mellon Corp raised its holdings in shares of Copart by 23.3% during the fourth quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider's stock worth $1,115,664,000 after acquiring an additional 3,667,534 shares during the period. Edgewood Management LLC raised its holdings 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. Finally, Wellington Management Group LLP raised its holdings in shares of Copart by 14.4% during the fourth quarter. Wellington Management Group LLP now owns 14,157,306 shares of the business services provider's stock worth $812,488,000 after acquiring an additional 1,785,741 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Stock Up 0.0%

Shares of NASDAQ:CPRT traded up $0.03 during midday trading on Wednesday, reaching $62.42. 3,744,804 shares of the company were exchanged, compared to its average volume of 4,410,016. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38. The stock has a fifty day simple moving average of $57.77 and a two-hundred day simple moving average of $57.81. The firm has a market cap of $60.30 billion, a PE ratio of 41.89 and a beta of 1.20.

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

Insider Buying and Selling at Copart

In other Copart news, Director Steven D. Cohan sold 5,003 shares of Copart stock in a transaction on Friday, April 11th. The shares were sold at an average price of $60.01, for a total value of $300,230.03. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James E. Meeks sold 100,000 shares of Copart 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 disclosure for this sale can be found here. In the last three months, insiders have sold 200,000 shares of company stock worth $11,401,000. Insiders own 9.68% of the company's stock.

Wall Street Analysts Forecast Growth

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

Copart 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.