Twin Capital Management Inc. Has $3.56 Million Holdings in Copart, Inc. (NASDAQ:CPRT)

Twin Capital Management Inc. grew its holdings in Copart, Inc. (NASDAQ:CPRT) by 2.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,971 shares of the business services provider’s stock after acquiring an additional 1,261 shares during the quarter. Twin Capital Management Inc.’s holdings in Copart were worth $3,557,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity at Copart

In other news, Director James E. Meeks sold 100,000 shares of the firm’s stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total value of $5,400,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.68% of the company’s stock.

Copart Stock Performance

Shares of Copart stock opened at $54.51 on Monday. The firm’s 50-day simple moving average is $56.23 and its 200-day simple moving average is $56.45. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38. The firm has a market cap of $52.66 billion, a P/E ratio of 36.58 and a beta of 1.22.

Copart (NASDAQ:CPRT) last issued its 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. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. On average, equities analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.