Picton Mahoney Asset Management Buys 59,735 Shares of Copart, Inc. (NASDAQ:CPRT)

Picton Mahoney Asset Management boosted its position in Copart, Inc. (NASDAQ:CPRT) by 15.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 447,543 shares of the business services provider’s stock after purchasing an additional 59,735 shares during the quarter. Copart makes up approximately 0.6% of Picton Mahoney Asset Management’s investment portfolio, making the stock its 17th largest holding. Picton Mahoney Asset Management’s holdings in Copart were worth $21,929,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CPRT. OFI Invest Asset Management purchased a new position in shares of Copart in the third quarter worth $25,000. Manchester Capital Management LLC raised its stake in Copart by 101.0% in the 3rd quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider’s stock worth $27,000 after acquiring an additional 314 shares during the last quarter. Bell Investment Advisors Inc lifted its position in Copart by 87.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider’s stock worth $30,000 after acquiring an additional 323 shares during the period. Annapolis Financial Services LLC grew its stake in Copart by 100.0% during the 3rd 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 acquired a new position in shares of Copart in the fourth quarter valued at about $34,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Trading Up 0.3 %

NASDAQ CPRT traded up $0.19 on Tuesday, reaching $55.93. 3,094,588 shares of the company were exchanged, compared to its average volume of 4,508,919. The business’s fifty day moving average price is $55.53 and its 200 day moving average price is $50.95. The stock has a market capitalization of $53.78 billion, a P/E ratio of 40.24 and a beta of 1.22. Copart, Inc. has a fifty-two week low of $39.28 and a fifty-two week high of $58.58.

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

Analysts Set New Price Targets

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

Insider Activity

In other news, Director Thomas N. Tryforos sold 285,000 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the completion of the transaction, the director now directly owns 35,000 shares in the company, valued at approximately $1,934,450. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Matt Blunt sold 100,000 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Thomas N. Tryforos sold 285,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total value of $15,751,950.00. Following the completion of the sale, the director now owns 35,000 shares in the company, valued at $1,934,450. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 985,000 shares of company stock valued at $55,519,950. 10.23% of the stock is currently owned by company insiders.

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.