Copart, Inc. (NASDAQ:CPRT) Shares Acquired by Vestcor Inc

Vestcor Inc boosted its holdings in Copart, Inc. (NASDAQ:CPRT) by 11.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,087 shares of the business services provider’s stock after purchasing an additional 1,740 shares during the quarter. Vestcor Inc’s holdings in Copart were worth $895,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Optimum Investment Advisors boosted its stake in shares of Copart by 141.5% during the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after buying an additional 300 shares during the period. Eastern Bank acquired a new stake in Copart during the 3rd quarter worth approximately $29,000. Quarry LP purchased a new position in shares of Copart in the 3rd quarter valued at approximately $29,000. Crewe Advisors LLC increased its holdings in shares of Copart by 98.6% in the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 280 shares during the period. Finally, Meeder Asset Management Inc. raised its stake in shares of Copart by 283.3% during the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock worth $31,000 after purchasing an additional 425 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Trading Down 0.8 %

Shares of CPRT stock opened at $62.08 on Friday. Copart, Inc. has a 12-month low of $46.21 and a 12-month high of $64.38. The company has a market cap of $59.82 billion, a price-to-earnings ratio of 43.72 and a beta of 1.31. The stock has a 50 day simple moving average of $56.84 and a 200-day simple moving average of $53.98.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.37. Copart had a net margin of 31.92% and a return on equity of 18.96%. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the prior year, the company posted $0.34 EPS. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, equities analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Copart

In other news, Director Thomas N. Tryforos sold 83,310 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $61.86, for a total value of $5,153,556.60. Following the completion of the transaction, the director now owns 7,850 shares in the company, valued at $485,601. This trade represents a 91.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman A Jayson Adair sold 251,423 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the completion of the sale, the chairman now owns 14,436,557 shares in the company, valued at $920,907,971.03. This represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.68% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Robert W. Baird lowered their price objective on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. JPMorgan Chase & Co. raised their target price on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th.

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.