Victory Capital Management Inc. Has $43.94 Million Stake in Copart, Inc. (NASDAQ:CPRT)

Victory Capital Management Inc. cut its stake in Copart, Inc. (NASDAQ:CPRT) by 6.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 896,819 shares of the business services provider’s stock after selling 65,419 shares during the quarter. Victory Capital Management Inc. owned 0.09% of Copart worth $43,944,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. OFI Invest Asset Management acquired a new stake in Copart during the 3rd quarter worth approximately $25,000. Manchester Capital Management LLC raised its holdings in shares of Copart by 101.0% during the third quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider’s stock worth $27,000 after acquiring an additional 314 shares during the period. Bell Investment Advisors Inc lifted its position in Copart by 87.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 323 shares in the last quarter. Annapolis Financial Services LLC boosted its stake in Copart by 100.0% in the 3rd quarter. Annapolis Financial Services LLC now owns 720 shares of the business services provider’s stock worth $31,000 after purchasing an additional 360 shares during the period. Finally, Fortitude Family Office LLC bought a new position in Copart during the 4th quarter worth about $34,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Copart

In related news, Director Thomas N. Tryforos sold 285,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total value of $15,751,950.00. Following the completion of the transaction, the director now directly owns 35,000 shares in the company, valued at $1,934,450. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Thomas N. Tryforos sold 285,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total value of $15,751,950.00. Following the completion of the sale, the director now owns 35,000 shares of the company’s stock, valued at approximately $1,934,450. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Matt Blunt sold 100,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $51.06, for a total transaction of $5,106,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 985,000 shares of company stock valued at $55,519,950 in the last 90 days. Corporate insiders own 10.23% of the company’s stock.

Copart Trading Up 1.5 %

Shares of CPRT opened at $55.20 on Monday. The firm’s fifty day simple moving average is $55.40 and its two-hundred day simple moving average is $50.75. Copart, Inc. has a 12 month low of $39.06 and a 12 month high of $58.58. The stock has a market capitalization of $53.07 billion, a P/E ratio of 39.71 and a beta of 1.22.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, February 22nd. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.02). Copart had a net margin of 33.41% and a return on equity of 21.55%. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the company earned $0.31 EPS. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, research analysts predict that Copart, Inc. will post 1.42 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. StockNews.com lowered shares of Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. raised their price objective on Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Copart presently has a consensus rating of “Hold” and an average target price of $51.00.

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.