Rehmann Capital Advisory Group Has $414,000 Stock Position in Copart, Inc. (NASDAQ:CPRT)

Rehmann Capital Advisory Group lifted its stake in Copart, Inc. (NASDAQ:CPRT) by 6.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,880 shares of the business services provider’s stock after acquiring an additional 478 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Copart were worth $414,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CPRT. Jensen Investment Management Inc. increased its position in shares of Copart by 2,466.0% in the third quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock valued at $185,299,000 after acquiring an additional 3,398,423 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Copart by 462.8% in the third quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock valued at $192,240,000 after acquiring an additional 3,016,795 shares during the last quarter. Comgest Global Investors S.A.S. increased its position in shares of Copart by 706.6% in the third quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock valued at $83,153,000 after acquiring an additional 1,390,146 shares during the last quarter. Kimelman & Baird LLC bought a new position in Copart during the second quarter worth about $70,307,000. Finally, Bank of New York Mellon Corp grew its holdings in Copart by 8.1% during the second 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 during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Down 0.8 %

Shares of NASDAQ:CPRT opened at $62.08 on Friday. Copart, Inc. has a 12-month low of $46.21 and a 12-month high of $64.38. The stock has a market cap of $59.82 billion, a PE ratio of 43.72 and a beta of 1.31. The business has a 50 day moving average of $56.84 and a 200-day moving average of $53.98.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.37. Copart had a return on equity of 18.96% and a net margin of 31.92%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the company posted $0.34 earnings per share. The business’s revenue was up 12.4% on a year-over-year basis. Equities research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Transactions at Copart

In related news, Director Thomas N. Tryforos sold 83,310 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $61.86, for a total value of $5,153,556.60. Following the completion of the sale, the director now directly owns 7,850 shares in the company, valued at approximately $485,601. The trade was a 91.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman A Jayson Adair sold 251,423 shares of the business’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 sale, the chairman now owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. This trade represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.68% of the company’s stock.

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.