Worldquant Millennium Advisors LLC Invests $5.46 Million in Copart, Inc. (NASDAQ:CPRT)

Worldquant Millennium Advisors LLC purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 104,103 shares of the business services provider’s stock, valued at approximately $5,455,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CPRT. Jensen Investment Management Inc. lifted its holdings in shares of Copart by 2,466.0% during the 3rd quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock worth $185,299,000 after acquiring an additional 3,398,423 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Copart by 462.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock worth $192,240,000 after acquiring an additional 3,016,795 shares during the period. Comgest Global Investors S.A.S. increased its position in Copart by 706.6% during the 3rd quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock worth $83,153,000 after purchasing an additional 1,390,146 shares in the last quarter. Kimelman & Baird LLC acquired a new position in Copart during the 2nd quarter worth approximately $70,307,000. Finally, Bank of New York Mellon Corp increased its position in Copart by 8.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider’s stock worth $867,017,000 after purchasing an additional 1,199,781 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Copart Price Performance

CPRT stock opened at $62.08 on Friday. Copart, Inc. has a 1 year low of $46.21 and a 1 year high of $64.38. The company has a 50 day simple moving average of $56.07 and a 200 day simple moving average of $53.76. The stock has a market cap of $59.82 billion, a price-to-earnings ratio of 43.72 and a beta of 1.31.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.37. Copart had a net margin of 31.92% and a return on equity of 18.96%. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the prior year, the company posted $0.34 EPS. The company’s revenue was up 12.4% on a year-over-year basis. On average, equities research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Buying and Selling at Copart

In other Copart news, Chairman A Jayson Adair sold 251,423 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total value of $16,038,273.17. Following the completion of the transaction, the chairman now directly owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. This represents a 1.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 9.68% of the company’s stock.

Wall Street Analysts Forecast Growth

CPRT has been the subject of a number of research analyst reports. Robert W. Baird lowered their price objective on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. JPMorgan Chase & Co. upped their price objective on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th.

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.