Twin Capital Management Inc. Trims Stake in Copart, Inc. (NASDAQ:CPRT)

Twin Capital Management Inc. reduced its position in shares of Copart, Inc. (NASDAQ:CPRT) by 2.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,140 shares of the business services provider’s stock after selling 2,640 shares during the period. Twin Capital Management Inc.’s holdings in Copart were worth $5,152,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CPRT. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Copart by 1,212.2% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,110 shares of the business services provider’s stock valued at $390,000 after purchasing an additional 2,873 shares in the last quarter. Panagora Asset Management Inc. grew its position in shares of Copart by 14.6% during the 1st quarter. Panagora Asset Management Inc. now owns 8,456 shares of the business services provider’s stock valued at $1,061,000 after purchasing an additional 1,079 shares in the last quarter. Vontobel Holding Ltd. grew its position in shares of Copart by 52.1% during the 1st quarter. Vontobel Holding Ltd. now owns 10,823 shares of the business services provider’s stock valued at $1,380,000 after purchasing an additional 3,707 shares in the last quarter. National Pension Service grew its position in shares of Copart by 5.0% during the 1st quarter. National Pension Service now owns 286,903 shares of the business services provider’s stock valued at $35,998,000 after purchasing an additional 13,666 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Copart by 1.2% in the first quarter. Vanguard Group Inc. now owns 22,968,882 shares of the business services provider’s stock worth $2,881,905,000 after acquiring an additional 270,867 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CPRT shares. JPMorgan Chase & Co. upped their target price on shares of Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. StockNews.com lowered shares of Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $51.00.

Copart Price Performance

NASDAQ CPRT traded down $0.41 during trading on Thursday, hitting $53.61. 1,134,653 shares of the company’s stock traded hands, compared to its average volume of 4,592,350. The stock has a fifty day moving average of $54.26 and a two-hundred day moving average of $49.96. Copart, Inc. has a 12-month low of $38.35 and a 12-month high of $58.58. The firm has a market cap of $51.55 billion, a P/E ratio of 38.86 and a beta of 1.22.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). Copart had a net margin of 33.41% and a return on equity of 21.55%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the company earned $0.31 earnings per share. The business’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, analysts expect that Copart, Inc. will post 1.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Copart

In other Copart news, Director Thomas N. Tryforos sold 285,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the completion of the sale, the director now directly owns 35,000 shares in the company, valued at $1,934,450. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Matt Blunt sold 100,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $51.06, for a total transaction of $5,106,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas N. Tryforos sold 285,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the transaction, the director now directly owns 35,000 shares of the company’s stock, valued at $1,934,450. The disclosure for this sale can be found here. Insiders sold a total of 985,000 shares of company stock worth $55,519,950 over the last three months. Company insiders own 10.23% of the company’s stock.

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.