Copart, Inc. (NASDAQ:CPRT) Stock Position Boosted by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC boosted its stake in Copart, Inc. (NASDAQ:CPRT) by 44.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 632,911 shares of the business services provider’s stock after buying an additional 195,650 shares during the period. TimesSquare Capital Management LLC owned 0.07% of Copart worth $36,323,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CPRT. Creative Planning grew its position in Copart by 1.2% in the 3rd quarter. Creative Planning now owns 141,602 shares of the business services provider’s stock valued at $7,420,000 after buying an additional 1,646 shares in the last quarter. Trilogy Capital Inc. boosted its position in shares of Copart by 41.0% during the 3rd quarter. Trilogy Capital Inc. now owns 28,469 shares of the business services provider’s stock valued at $1,492,000 after purchasing an additional 8,273 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Copart by 7.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 16,526 shares of the business services provider’s stock valued at $866,000 after purchasing an additional 1,122 shares in the last quarter. Eastern Bank bought a new position in shares of Copart during the 3rd quarter valued at about $29,000. Finally, Segment Wealth Management LLC boosted its position in shares of Copart by 15.1% during the 3rd quarter. Segment Wealth Management LLC now owns 40,873 shares of the business services provider’s stock valued at $2,142,000 after purchasing an additional 5,374 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Copart Trading Up 0.3 %

NASDAQ:CPRT opened at $59.59 on Wednesday. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38. The company has a 50-day moving average of $58.20 and a 200-day moving average of $55.56. The firm has a market cap of $57.42 billion, a price-to-earnings ratio of 41.96 and a beta of 1.33.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. Copart had a net margin of 31.92% and a return on equity of 18.96%. The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period last year, the company posted $0.34 earnings per share. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. raised their price objective on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th.

Insiders Place Their Bets

In other news, Chairman A Jayson Adair sold 251,423 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total value of $16,038,273.17. Following the completion of the sale, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at $920,907,971.03. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel J. Englander sold 235,480 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. Insiders sold a total of 650,213 shares of company stock worth $39,199,813 over the last ninety days. 9.68% of the stock is currently owned by company insiders.

About Copart

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.