Rockland Trust Co. Has $15.07 Million Stake in Copart, Inc. (NASDAQ:CPRT)

Rockland Trust Co. cut its stake in Copart, Inc. (NASDAQ:CPRT) by 4.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 262,561 shares of the business services provider’s stock after selling 10,802 shares during the period. Rockland Trust Co.’s holdings in Copart were worth $15,068,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its position in shares of Copart by 2.5% during the third 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 period. State Street Corp boosted its position in Copart by 0.4% during the 3rd quarter. State Street Corp now owns 34,157,967 shares of the business services provider’s stock worth $1,789,877,000 after acquiring an additional 120,939 shares during the last quarter. Edgewood Management LLC grew its stake in shares of Copart by 0.6% during the 3rd quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider’s stock worth $1,077,119,000 after acquiring an additional 125,220 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Copart by 1.6% in the third quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider’s stock valued at $979,547,000 after purchasing an additional 291,580 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Copart by 0.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,898,956 shares of the business services provider’s stock worth $427,807,000 after purchasing an additional 30,454 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Insider Activity

In other news, Director Daniel J. Englander sold 235,480 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $56.84, for a total value of $13,384,683.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total value of $16,038,273.17. Following the transaction, the chairman now owns 14,436,557 shares of the company’s stock, 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. Insiders sold a total of 650,213 shares of company stock valued at $39,199,813 in the last quarter. Company insiders own 9.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. lifted their price target on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th.

Copart Stock Performance

Shares of NASDAQ CPRT opened at $56.22 on Wednesday. The stock has a 50 day moving average price of $58.96 and a 200 day moving average price of $54.65. The stock has a market capitalization of $54.17 billion, a PE ratio of 39.59 and a beta of 1.33. Copart, Inc. has a 52 week low of $47.31 and a 52 week high of $64.38.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, meeting the consensus estimate of $0.37. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The firm’s revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 EPS. As a group, research 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.