TimesSquare Capital Management LLC Has $32.44 Million Stake in Copart, Inc. (NASDAQ:CPRT)

TimesSquare Capital Management LLC lowered its position in Copart, Inc. (NASDAQ:CPRT) by 50.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 661,936 shares of the business services provider’s stock after selling 672,415 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Copart were worth $32,435,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CPRT. Nordea Investment Management AB raised its stake in Copart by 64.1% in the 4th quarter. Nordea Investment Management AB now owns 1,441,839 shares of the business services provider’s stock valued at $70,448,000 after acquiring an additional 563,233 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Copart by 1.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,848,048 shares of the business services provider’s stock worth $139,554,000 after buying an additional 44,248 shares during the period. CHURCHILL MANAGEMENT Corp grew its stake in Copart by 57.9% in the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 63,521 shares of the business services provider’s stock valued at $3,113,000 after buying an additional 23,304 shares during the last quarter. Artemis Investment Management LLP raised its holdings in Copart by 29.0% in the 4th quarter. Artemis Investment Management LLP now owns 1,167,186 shares of the business services provider’s stock valued at $57,193,000 after acquiring an additional 262,499 shares during the period. Finally, Checchi Capital Advisers LLC lifted its position in Copart by 72.5% during the third quarter. Checchi Capital Advisers LLC now owns 6,228 shares of the business services provider’s stock worth $268,000 after acquiring an additional 2,618 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CPRT shares. JPMorgan Chase & Co. upped their target price on Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. StockNews.com downgraded Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $51.00.

Copart Stock Down 1.4 %

Shares of CPRT traded down $0.77 during mid-day trading on Wednesday, hitting $55.16. 2,747,247 shares of the company’s stock were exchanged, compared to its average volume of 4,489,041. The firm has a market cap of $53.04 billion, a price-to-earnings ratio of 39.68 and a beta of 1.22. The stock’s 50-day simple moving average is $55.57 and its 200-day simple moving average is $50.98. Copart, Inc. has a 52 week low of $39.57 and a 52 week high of $58.58.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. Copart had a return on equity of 21.55% and a net margin of 33.41%. Copart’s revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the business earned $0.31 EPS. Analysts forecast that Copart, Inc. will post 1.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Matt Blunt sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $51.06, for a total value of $5,106,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Copart news, Director Matt Blunt sold 100,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $51.06, for a total value of $5,106,000.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman A Jayson Adair sold 600,000 shares of Copart stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value of $34,662,000.00. Following the completion of the transaction, the chairman now owns 19,687,980 shares in the company, valued at approximately $1,137,374,604.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 985,000 shares of company stock worth $55,519,950. Company insiders own 10.23% of the company’s stock.

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.