Jensen Investment Management Inc. Reduces Stock Position in Copart, Inc. (NASDAQ:CPRT)

Jensen Investment Management Inc. reduced its holdings in Copart, Inc. (NASDAQ:CPRT) by 0.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,506,594 shares of the business services provider’s stock after selling 29,639 shares during the period. Copart comprises approximately 1.8% of Jensen Investment Management Inc.’s portfolio, making the stock its 21st biggest holding. Jensen Investment Management Inc.’s holdings in Copart were worth $201,243,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Principal Financial Group Inc. boosted its stake in shares of Copart by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock worth $2,037,130,000 after purchasing an additional 941,858 shares during the period. Aigen Investment Management LP purchased a new position in shares of Copart during the 3rd quarter worth about $212,000. OneDigital Investment Advisors LLC boosted its stake in shares of Copart by 1.8% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 19,298 shares of the business services provider’s stock worth $1,011,000 after purchasing an additional 337 shares during the period. Empowered Funds LLC boosted its stake in shares of Copart by 20.9% during the 3rd quarter. Empowered Funds LLC now owns 64,069 shares of the business services provider’s stock worth $3,357,000 after purchasing an additional 11,089 shares during the period. Finally, Natixis Advisors LLC boosted its stake in shares of Copart by 4.4% during the 3rd quarter. Natixis Advisors LLC now owns 1,290,498 shares of the business services provider’s stock worth $67,622,000 after purchasing an additional 53,834 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Stock Performance

NASDAQ:CPRT opened at $52.65 on Monday. Copart, Inc. has a one year low of $48.05 and a one year high of $64.38. The firm has a market cap of $50.86 billion, a P/E ratio of 35.34 and a beta of 1.30. The firm has a 50-day simple moving average of $56.71 and a 200-day simple moving average of $56.01.

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

Insider Buying and Selling

In related news, Director Diane M. Morefield sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at $1,160,200. The trade was a 60.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Matt Blunt sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total transaction of $2,883,000.00. The disclosure for this sale can be found here. Insiders sold a total of 315,480 shares of company stock worth $18,007,983 in the last 90 days. 9.68% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CPRT shares. Argus cut shares of Copart from a “buy” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. boosted 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.

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.