Bryce Point Capital LLC Acquires New Stake in Copart, Inc. (NASDAQ:CPRT)

Bryce Point Capital LLC bought a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 22,980 shares of the business services provider’s stock, valued at approximately $1,319,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CPRT. Sandy Spring Bank increased its position in Copart by 59.5% during the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock worth $27,000 after buying an additional 176 shares during the period. Quarry LP acquired a new stake in shares of Copart during the 3rd quarter valued at $29,000. Curio Wealth LLC bought a new position in Copart in the 4th quarter valued at approximately $52,000. Continuum Advisory LLC grew its stake in shares of Copart by 88.6% in the third quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock worth $55,000 after purchasing an additional 452 shares during the last quarter. Finally, Retirement Wealth Solutions LLC bought a new position in shares of Copart during the fourth quarter worth about $54,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analysts Set New Price Targets

Separately, Argus lowered Copart from a “buy” rating to a “hold” rating in a research report on Friday, March 14th.

Insider Activity

In related news, Director Matt Blunt sold 50,000 shares of Copart stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total value of $2,883,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James E. Meeks sold 100,000 shares of Copart stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total value of $5,400,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 385,480 shares of company stock valued at $21,667,683. Insiders own 9.68% of the company’s stock.

Copart Stock Performance

Shares of Copart stock opened at $57.21 on Wednesday. The company has a market capitalization of $55.27 billion, a P/E ratio of 38.40 and a beta of 1.30. The company has a fifty day moving average of $56.32 and a 200 day moving average of $56.33. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. Copart had a return on equity of 19.31% and a net margin of 32.27%. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. Analysts forecast that Copart, Inc. will post 1.57 EPS for the current year.

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.