Voya Investment Management LLC Decreases Stake in Copart, Inc. (NASDAQ:CPRT)

Voya Investment Management LLC reduced its stake in Copart, Inc. (NASDAQ:CPRT) by 64.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 220,278 shares of the business services provider’s stock after selling 392,225 shares during the quarter. Voya Investment Management LLC’s holdings in Copart were worth $12,642,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CPRT. Principal Financial Group Inc. raised its position in 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 last quarter. Barclays PLC grew its stake in Copart by 0.4% in the 3rd quarter. Barclays PLC now owns 6,042,734 shares of the business services provider’s stock valued at $316,639,000 after acquiring an additional 21,710 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Copart in the 3rd quarter valued at $317,000. Tidal Investments LLC grew its stake in Copart by 7.8% in the 3rd quarter. Tidal Investments LLC now owns 88,324 shares of the business services provider’s stock valued at $4,628,000 after acquiring an additional 6,421 shares during the period. Finally, Peapack Gladstone Financial Corp grew its stake in Copart by 6.5% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 104,650 shares of the business services provider’s stock valued at $5,484,000 after acquiring an additional 6,385 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Copart

In other Copart news, Director James E. Meeks sold 100,000 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total value of $5,400,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven D. Cohan sold 94,997 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $60.01, for a total transaction of $5,700,769.97. The disclosure for this sale can be found here. In the last quarter, insiders sold 200,000 shares of company stock worth $11,401,000. Insiders own 9.68% of the company’s stock.

Copart Stock Down 1.8 %

Shares of NASDAQ CPRT opened at $59.81 on Tuesday. The stock has a market capitalization of $57.78 billion, a price-to-earnings ratio of 40.14 and a beta of 1.22. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38. The firm has a 50-day simple moving average of $56.34 and a 200-day simple moving average of $57.18.

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

Wall Street Analyst Weigh In

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

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.