TimesSquare Capital Management LLC Has $32.44 Million Stake in Copart, Inc. (NASDAQ:CPRT)

TimesSquare Capital Management LLC trimmed its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 50.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 661,936 shares of the business services provider's stock after selling 672,415 shares during the period. TimesSquare Capital Management LLC owned 0.07% of Copart worth $32,435,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. OFI Invest Asset Management acquired a new stake in shares of Copart in the third quarter worth $25,000. Manchester Capital Management LLC boosted its holdings in Copart by 101.0% during the third quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider's stock valued at $27,000 after acquiring an additional 314 shares during the period. Bell Investment Advisors Inc grew its position in shares of Copart by 87.1% in the third quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider's stock valued at $30,000 after purchasing an additional 323 shares during the last quarter. Annapolis Financial Services LLC grew its position in shares of Copart by 100.0% in the third quarter. Annapolis Financial Services LLC now owns 720 shares of the business services provider's stock valued at $31,000 after purchasing an additional 360 shares during the last quarter. Finally, Fortitude Family Office LLC bought a new position in shares of Copart in the fourth quarter worth about $34,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on CPRT. StockNews.com lowered Copart from a "buy" rating to a "hold" rating in a report on Wednesday, February 21st. JPMorgan Chase & Co. raised their price objective on shares of Copart from $48.00 to $52.00 and gave the stock a "neutral" rating in a research note on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $51.00.

Copart Trading Down 1.4 %

CPRT stock traded down $0.77 during trading on Wednesday, reaching $55.16. 2,747,247 shares of the stock were exchanged, compared to its average volume of 4,489,041. Copart, Inc. has a twelve month low of $39.57 and a twelve month high of $58.58. The company has a market capitalization of $53.04 billion, a P/E ratio of 39.68 and a beta of 1.22. The stock has a 50 day simple moving average of $55.57 and a 200-day simple moving average of $50.98.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.02). The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. Copart had a return on equity of 21.55% and a net margin of 33.41%. Copart's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.31 EPS. Equities analysts predict that Copart, Inc. will post 1.42 EPS for the current year.

Insider Buying and Selling at Copart

In other news, Chairman A Jayson Adair sold 600,000 shares of Copart stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the sale, the chairman now directly owns 19,687,980 shares in the company, valued at approximately $1,137,374,604.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Chairman A Jayson Adair sold 600,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total value of $34,662,000.00. Following the completion of the transaction, the chairman now directly owns 19,687,980 shares of the company's stock, valued at approximately $1,137,374,604.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Matt Blunt sold 100,000 shares of the business's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $51.06, for a total value of $5,106,000.00. The disclosure for this sale can be found here. Insiders have sold 985,000 shares of company stock valued at $55,519,950 in the last 90 days. 10.23% of the stock is currently owned by company insiders.

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.

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