Connor Clark & Lunn Investment Management Ltd. Reduces Position in Copart, Inc. (NASDAQ:CPRT)

Connor Clark & Lunn Investment Management Ltd. cut its position in shares of Copart, Inc. (NASDAQ:CPRT) by 22.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 225,368 shares of the business services provider’s stock after selling 64,632 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Copart were worth $12,934,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. YCG LLC boosted its stake in shares of Copart by 0.4% during the 4th quarter. YCG LLC now owns 1,185,092 shares of the business services provider’s stock worth $68,012,000 after purchasing an additional 4,753 shares during the period. Sequoia Financial Advisors LLC boosted its position in Copart by 22.2% in the 4th quarter. Sequoia Financial Advisors LLC now owns 20,196 shares of the business services provider’s stock valued at $1,159,000 after buying an additional 3,670 shares during the period. HighTower Advisors LLC boosted its position in Copart by 164.2% in the 4th quarter. HighTower Advisors LLC now owns 611,320 shares of the business services provider’s stock valued at $35,084,000 after buying an additional 379,943 shares during the period. Donaldson Capital Management LLC boosted its position in Copart by 0.5% in the 4th quarter. Donaldson Capital Management LLC now owns 89,678 shares of the business services provider’s stock valued at $5,147,000 after buying an additional 472 shares during the period. Finally, King Luther Capital Management Corp boosted its position in Copart by 0.3% in the 4th quarter. King Luther Capital Management Corp now owns 120,329 shares of the business services provider’s stock valued at $6,906,000 after buying an additional 366 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 Friday. 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 $55.96.

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.

Wall Street Analyst Weigh In

CPRT has been the subject of several research reports. 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.

Insider Activity

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. In the last quarter, insiders sold 315,480 shares of company stock worth $18,007,983. 9.68% of the stock is currently owned by corporate insiders.

Copart 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.