Sawgrass Asset Management LLC Has $7.88 Million Position in Copart, Inc. (NASDAQ:CPRT)

Sawgrass Asset Management LLC grew its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 32.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 160,712 shares of the business services provider’s stock after buying an additional 38,946 shares during the period. Sawgrass Asset Management LLC’s holdings in Copart were worth $7,875,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in CPRT. Vanguard Group Inc. raised its position in Copart by 100.6% in the third quarter. Vanguard Group Inc. now owns 97,512,662 shares of the business services provider’s stock worth $4,201,821,000 after purchasing an additional 48,891,984 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Copart by 96.8% during the third quarter. Principal Financial Group Inc. now owns 39,803,057 shares of the business services provider’s stock valued at $1,715,114,000 after purchasing an additional 19,576,719 shares during the last quarter. Wellington Management Group LLP boosted its stake in Copart by 84.4% in the third quarter. Wellington Management Group LLP now owns 17,929,180 shares of the business services provider’s stock valued at $772,568,000 after acquiring an additional 8,205,757 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Copart by 79.1% in the third quarter. JPMorgan Chase & Co. now owns 17,359,152 shares of the business services provider’s stock valued at $748,006,000 after acquiring an additional 7,666,881 shares during the last quarter. Finally, FMR LLC boosted its stake in Copart by 93.6% in the third quarter. FMR LLC now owns 14,733,860 shares of the business services provider’s stock valued at $634,882,000 after acquiring an additional 7,122,991 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CPRT. JPMorgan Chase & Co. increased their target price on shares of Copart from $48.00 to $52.00 and gave the stock 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 report on Wednesday, February 21st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $51.00.

Copart Stock Down 1.4 %

Shares of NASDAQ:CPRT traded down $0.77 during midday trading on Wednesday, reaching $55.16. 2,747,247 shares of the company were exchanged, compared to its average volume of 4,489,041. Copart, Inc. has a fifty-two week low of $39.57 and a fifty-two week high of $58.58. The stock has a fifty day simple moving average of $55.53 and a two-hundred day simple moving average of $50.95. The firm has a market cap of $53.04 billion, a PE ratio of 40.24 and a beta of 1.22.

Copart (NASDAQ:CPRT) last issued 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 during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the firm posted $0.31 earnings per share. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, analysts forecast that Copart, Inc. will post 1.42 earnings per share for the current year.

Insider Buying and Selling at Copart

In other Copart news, Chairman A Jayson Adair sold 600,000 shares of Copart stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value 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 Securities & Exchange Commission, which can be accessed through this link. In related news, Director Matt Blunt sold 100,000 shares of Copart 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 is accessible through this hyperlink. Also, Chairman A Jayson Adair sold 600,000 shares of Copart stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the completion of the sale, the chairman now owns 19,687,980 shares of the company’s stock, valued at approximately $1,137,374,604.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 985,000 shares of company stock worth $55,519,950. 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.