Twin Capital Management Inc. Purchases 1,261 Shares of Copart, Inc. (NASDAQ:CPRT)

Twin Capital Management Inc. boosted its position in Copart, Inc. (NASDAQ:CPRT) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 61,971 shares of the business services provider’s stock after acquiring an additional 1,261 shares during the period. Twin Capital Management Inc.’s holdings in Copart were worth $3,557,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPRT. Principal Financial Group Inc. grew its position 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 buying an additional 941,858 shares during the period. HighTower Advisors LLC boosted its stake in Copart by 9.6% in the third quarter. HighTower Advisors LLC now owns 231,377 shares of the business services provider’s stock valued at $12,109,000 after acquiring an additional 20,333 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Copart by 7.7% during the 3rd quarter. Janus Henderson Group PLC now owns 96,566 shares of the business services provider’s stock worth $5,060,000 after acquiring an additional 6,900 shares during the period. IHT Wealth Management LLC lifted its stake in shares of Copart by 67.4% in the 3rd quarter. IHT Wealth Management LLC now owns 8,600 shares of the business services provider’s stock valued at $451,000 after purchasing an additional 3,462 shares during the period. Finally, Quarry LP bought a new stake in Copart in the third quarter valued at about $29,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Price Performance

NASDAQ:CPRT opened at $54.51 on Monday. The business’s 50-day simple moving average is $56.23 and its 200-day simple moving average is $56.45. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38. The stock has a market capitalization of $52.66 billion, a PE ratio of 36.58 and a beta of 1.22.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.02. The company 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, research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Copart news, Director James E. Meeks sold 100,000 shares of Copart stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total value of $5,400,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.68% of the stock is owned by corporate insiders.

Copart Company 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.