Massachusetts Financial Services Co. MA Reduces Holdings in Copart, Inc. (NASDAQ:CPRT)

Massachusetts Financial Services Co. MA cut its position in Copart, Inc. (NASDAQ:CPRT) by 10.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,922,429 shares of the business services provider’s stock after selling 601,892 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Copart were worth $282,498,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Copart by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 102,129,032 shares of the business services provider’s stock worth $5,861,185,000 after purchasing an additional 976,909 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of 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 worth $2,037,130,000 after buying an additional 941,858 shares during the last quarter. State Street Corp raised its holdings in Copart by 0.4% in the third quarter. State Street Corp now owns 34,157,967 shares of the business services provider’s stock valued at $1,789,877,000 after acquiring an additional 120,939 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Copart by 23.3% during the 4th quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider’s stock valued at $1,115,664,000 after acquiring an additional 3,667,534 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Copart by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 19,172,603 shares of the business services provider’s stock worth $1,097,153,000 after acquiring an additional 408,677 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Copart

In other Copart news, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James E. Meeks sold 100,000 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total transaction of $5,400,000.00. The disclosure for this sale can be found here. 9.68% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

Copart Price Performance

Shares of CPRT opened at $56.64 on Friday. The stock has a market capitalization of $54.72 billion, a PE ratio of 38.01 and a beta of 1.22. The business’s fifty day moving average price is $56.29 and its 200 day moving average price is $56.34. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38.

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

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.