Mackenzie Financial Corp Sells 340,775 Shares of Copart, Inc. $CPRT

Mackenzie Financial Corp lowered its position in Copart, Inc. (NASDAQ:CPRT) by 12.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 2,390,828 shares of the business services provider’s stock after selling 340,775 shares during the period. Mackenzie Financial Corp’s holdings in Copart were worth $117,318,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Copart during the 2nd quarter valued at about $549,448,000. Nuveen LLC purchased a new position in shares of Copart during the first quarter valued at approximately $267,723,000. Fiera Capital Corp boosted its position in shares of Copart by 75.3% during the second quarter. Fiera Capital Corp now owns 7,000,430 shares of the business services provider’s stock valued at $343,511,000 after buying an additional 3,007,820 shares during the period. PineStone Asset Management Inc. grew its stake in shares of Copart by 56.4% during the second quarter. PineStone Asset Management Inc. now owns 6,407,471 shares of the business services provider’s stock valued at $314,415,000 after buying an additional 2,310,067 shares during the last quarter. Finally, Amundi raised its holdings in shares of Copart by 32.5% in the first quarter. Amundi now owns 9,380,026 shares of the business services provider’s stock worth $531,256,000 after buying an additional 2,299,192 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Trading Up 0.6%

Shares of CPRT stock opened at $38.97 on Friday. Copart, Inc. has a twelve month low of $38.67 and a twelve month high of $64.06. The stock has a fifty day simple moving average of $42.99 and a two-hundred day simple moving average of $47.07. The stock has a market capitalization of $37.72 billion, a price-to-earnings ratio of 24.36 and a beta of 1.06.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, November 20th. The business services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. Copart had a return on equity of 18.17% and a net margin of 33.41%.The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the firm posted $0.37 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. Research analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CPRT. JPMorgan Chase & Co. dropped their price objective on Copart from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Monday, November 24th. HSBC set a $62.00 target price on Copart and gave the stock a “buy” rating in a research report on Thursday, September 4th. Stephens lowered their target price on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a research note on Friday, September 5th. Barclays reaffirmed an “underweight” rating and issued a $33.00 price target (up previously from $32.00) on shares of Copart in a research note on Friday, November 21st. Finally, Robert W. Baird decreased their price objective on shares of Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a report on Friday, November 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $47.60.

Insider Transactions at Copart

In other news, CEO Jeffrey Liaw sold 24,283 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total value of $1,087,635.57. Following the completion of the sale, the chief executive officer owned 31,332 shares in the company, valued at approximately $1,403,360.28. The trade was a 43.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas N. Tryforos sold 228,840 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $47.54, for a total transaction of $10,879,053.60. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 353,123 shares of company stock worth $15,873,689 in the last three months. Insiders own 9.60% 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.