Bessemer Group Inc. Decreases Holdings in Copart, Inc. (NASDAQ:CPRT)

Bessemer Group Inc. cut its position in Copart, Inc. (NASDAQ:CPRT) by 0.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,170,384 shares of the business services provider’s stock after selling 19,175 shares during the quarter. Copart comprises about 0.8% of Bessemer Group Inc.’s holdings, making the stock its 24th largest position. Bessemer Group Inc. owned about 0.87% of Copart worth $380,379,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich raised its holdings in Copart by 83,893.9% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 72,354,024 shares of the business services provider’s stock valued at $6,599,410,000 after acquiring an additional 72,267,882 shares during the period. BlackRock Inc. lifted its holdings in Copart by 0.3% during the 1st quarter. BlackRock Inc. now owns 38,505,590 shares of the business services provider’s stock worth $2,896,005,000 after purchasing an additional 132,852 shares in the last quarter. Vanguard Group Inc. boosted its stake in Copart by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 22,968,882 shares of the business services provider’s stock worth $2,881,905,000 after purchasing an additional 270,867 shares during the period. Geode Capital Management LLC grew its holdings in Copart by 2.2% during the 1st quarter. Geode Capital Management LLC now owns 9,296,080 shares of the business services provider’s stock valued at $697,646,000 after buying an additional 197,609 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Copart by 2.0% in the first quarter. JPMorgan Chase & Co. now owns 8,913,464 shares of the business services provider’s stock worth $670,382,000 after buying an additional 172,891 shares in the last quarter. Institutional investors own 79.26% of the company’s stock.

Copart Stock Down 0.1 %

Shares of NASDAQ CPRT traded down $0.03 during mid-day trading on Monday, reaching $50.19. 732,483 shares of the company were exchanged, compared to its average volume of 4,033,253. Copart, Inc. has a 52 week low of $29.61 and a 52 week high of $51.53. The company’s 50 day moving average price is $45.05 and its 200 day moving average price is $46.49. The stock has a market capitalization of $48.19 billion, a PE ratio of 36.93 and a beta of 1.19.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, November 16th. The business services provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $987.90 million. Copart had a return on equity of 22.46% and a net margin of 31.99%. The company’s revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 earnings per share. On average, sell-side analysts predict that Copart, Inc. will post 1.42 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Matt Blunt sold 49,435 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $43.11, for a total value of $2,131,142.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Matt Blunt sold 49,435 shares of Copart stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $43.11, for a total value of $2,131,142.85. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Stephen Fisher sold 160,000 shares of the stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $45.69, for a total value of $7,310,400.00. The disclosure for this sale can be found here. 10.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CPRT shares. JPMorgan Chase & Co. upped their target price on shares of Copart from $39.50 to $41.00 in a report on Monday, September 18th. Argus initiated coverage on Copart in a research report on Friday, September 8th. They issued a “buy” rating and a $53.00 price objective on the stock. StockNews.com raised Copart from a “hold” rating to a “buy” rating in a research note on Monday, October 30th. Finally, Robert W. Baird raised their price target on Copart from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, September 15th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Copart has an average rating of “Moderate Buy” and a consensus price target of $44.40.

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.