Allspring Global Investments Holdings LLC Acquires 44,248 Shares of Copart, Inc. (NASDAQ:CPRT)

Allspring Global Investments Holdings LLC increased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 1.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,848,048 shares of the business services provider’s stock after acquiring an additional 44,248 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.30% of Copart worth $139,554,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB increased its holdings in Copart by 64.1% during the 4th quarter. Nordea Investment Management AB now owns 1,441,839 shares of the business services provider’s stock worth $70,448,000 after acquiring an additional 563,233 shares during the period. CHURCHILL MANAGEMENT Corp increased its holdings in shares of Copart by 57.9% in the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 63,521 shares of the business services provider’s stock worth $3,113,000 after buying an additional 23,304 shares during the last quarter. Artemis Investment Management LLP increased its holdings in shares of Copart by 29.0% in the 4th quarter. Artemis Investment Management LLP now owns 1,167,186 shares of the business services provider’s stock worth $57,193,000 after buying an additional 262,499 shares during the last quarter. Checchi Capital Advisers LLC increased its holdings in shares of Copart by 72.5% in the 3rd quarter. Checchi Capital Advisers LLC now owns 6,228 shares of the business services provider’s stock worth $268,000 after buying an additional 2,618 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Copart by 96.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 604,901 shares of the business services provider’s stock worth $26,065,000 after buying an additional 296,392 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

NASDAQ:CPRT opened at $56.28 on Tuesday. The firm has a market cap of $54.11 billion, a P/E ratio of 40.49 and a beta of 1.22. Copart, Inc. has a fifty-two week low of $36.83 and a fifty-two week high of $58.58. The firm has a 50-day simple moving average of $53.47 and a two-hundred day simple moving average of $49.41.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results 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). The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Copart had a net margin of 33.41% and a return on equity of 21.55%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 EPS. On average, equities research analysts predict that Copart, Inc. will post 1.42 EPS for the current year.

Insider Buying and Selling

In related news, Director Thomas N. Tryforos sold 285,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 35,000 shares of the company’s stock, valued at $1,934,450. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Thomas N. Tryforos sold 285,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 35,000 shares of the company’s stock, valued at $1,934,450. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Matt Blunt sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $51.06, for a total transaction of $5,106,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 985,000 shares of company stock valued at $55,519,950. 10.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CPRT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on shares of Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday. StockNews.com cut shares of Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Copart has an average rating of “Hold” and an average price target of $51.00.

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.