Quantbot Technologies LP Cuts Holdings in Copart, Inc. (NASDAQ:CPRT)

Quantbot Technologies LP trimmed its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 53.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 36,410 shares of the business services provider’s stock after selling 41,211 shares during the quarter. Quantbot Technologies LP’s holdings in Copart were worth $2,090,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CPRT. Principal Financial Group Inc. boosted its stake in Copart by 2.5% in the third quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock valued at $2,037,130,000 after acquiring an additional 941,858 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Copart by 25.1% in the third quarter. Advisors Asset Management Inc. now owns 15,856 shares of the business services provider’s stock valued at $831,000 after acquiring an additional 3,177 shares in the last quarter. Meridian Wealth Management LLC acquired a new stake in shares of Copart during the third quarter worth $465,000. Cerity Partners LLC lifted its stake in shares of Copart by 22.9% during the third quarter. Cerity Partners LLC now owns 287,837 shares of the business services provider’s stock worth $15,083,000 after buying an additional 53,625 shares during the period. Finally, Baltimore Washington Financial Advisors Inc. lifted its stake in shares of Copart by 2.5% during the third quarter. Baltimore Washington Financial Advisors Inc. now owns 218,959 shares of the business services provider’s stock worth $11,473,000 after buying an additional 5,248 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Argus cut shares of Copart from a “buy” rating to a “hold” rating in a report on Friday, March 14th.

Insider Transactions at Copart

In other news, Director James E. Meeks sold 100,000 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total transaction of $5,400,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel J. Englander sold 235,480 shares of the business’s stock in a transaction dated 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 385,480 shares of company stock valued at $21,667,683 over the last 90 days. Corporate insiders own 9.68% of the company’s stock.

Copart Stock Down 0.4 %

CPRT stock opened at $53.63 on Monday. The stock has a market capitalization of $51.81 billion, a P/E ratio of 35.99 and a beta of 1.30. The firm has a 50-day simple moving average of $56.43 and a 200-day simple moving average of $56.03. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. On average, analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

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.