CNB Bank Lowers Position in Copart, Inc. (NASDAQ:CPRT)

CNB Bank lowered its position in Copart, Inc. (NASDAQ:CPRT) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,407 shares of the business services provider’s stock after selling 549 shares during the period. CNB Bank’s holdings in Copart were worth $597,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jensen Investment Management Inc. raised its holdings in Copart by 2,466.0% during the third quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock worth $185,299,000 after purchasing an additional 3,398,423 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Copart by 462.8% during the third quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock valued at $192,240,000 after acquiring an additional 3,016,795 shares during the last quarter. Franklin Resources Inc. increased its position in Copart by 335.8% during the 3rd quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock worth $149,471,000 after purchasing an additional 2,084,626 shares in the last quarter. Comgest Global Investors S.A.S. lifted its holdings in Copart by 706.6% in the 3rd quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock valued at $83,153,000 after purchasing an additional 1,390,146 shares in the last quarter. Finally, Kimelman & Baird LLC acquired a new stake in shares of Copart during the 2nd quarter worth about $70,307,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Up 0.8 %

Shares of CPRT opened at $56.83 on Friday. The firm has a market cap of $54.76 billion, a PE ratio of 40.01 and a beta of 1.33. The company’s fifty day moving average is $59.06 and its two-hundred day moving average is $54.69. Copart, Inc. has a fifty-two week low of $47.51 and a fifty-two 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 earnings per share for the quarter, meeting the consensus estimate of $0.37. Copart had a return on equity of 18.96% and a net margin of 31.92%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the previous year, the company posted $0.34 EPS. The company’s revenue was up 12.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Analyst Ratings Changes

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

Insider Activity

In other Copart news, Director Thomas N. Tryforos sold 83,310 shares of the 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 sale, the director now directly owns 7,850 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this link. Also, Director Daniel J. Englander sold 235,480 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 650,213 shares of company stock worth $39,199,813. 9.68% of the stock is currently owned by corporate insiders.

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.