Wedmont Private Capital Boosts Position in Copart, Inc. (NASDAQ:CPRT)

Wedmont Private Capital grew its holdings in Copart, Inc. (NASDAQ:CPRTFree Report) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,408 shares of the business services provider’s stock after acquiring an additional 334 shares during the period. Wedmont Private Capital’s holdings in Copart were worth $969,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Salem Investment Counselors Inc. grew its position in Copart by 1.5% during the 4th quarter. Salem Investment Counselors Inc. now owns 42,912 shares of the business services provider’s stock worth $2,463,000 after purchasing an additional 645 shares during the period. Kieckhefer Group LLC purchased a new stake in shares of Copart in the fourth quarter worth about $3,962,000. Capital Investment Advisors LLC grew its holdings in Copart by 9.2% during the fourth quarter. Capital Investment Advisors LLC now owns 33,728 shares of the business services provider’s stock worth $1,936,000 after acquiring an additional 2,852 shares during the period. Brookstone Capital Management purchased a new position in Copart during the fourth quarter valued at approximately $234,000. Finally, Fiduciary Alliance LLC acquired a new position in Copart in the fourth quarter valued at approximately $267,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. raised their price objective 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.

View Our Latest Stock Analysis on CPRT

Copart Stock Down 0.0 %

CPRT stock opened at $55.63 on Tuesday. Copart, Inc. has a 52-week low of $47.31 and a 52-week high of $64.38. The company’s 50-day simple moving average is $58.96 and its 200-day simple moving average is $54.65. The firm has a market cap of $53.60 billion, a P/E ratio of 39.18 and a beta of 1.33.

Copart (NASDAQ:CPRTGet Free Report) last issued 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 for the quarter, compared to analyst estimates of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. Copart’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period last year, the company earned $0.34 earnings per share. On average, analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Diane M. Morefield sold 30,000 shares of Copart stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total value of $1,740,300.00. Following the sale, the director now directly owns 20,000 shares of the company’s stock, valued at $1,160,200. The trade was a 60.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas N. Tryforos sold 83,310 shares of the stock in a transaction on Thursday, December 5th. The shares were 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 directly owns 7,850 shares of the company’s stock, valued at approximately $485,601. This represents a 91.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 650,213 shares of company stock worth $39,199,813. Company insiders own 9.68% of the company’s stock.

Copart Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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