Focus Partners Wealth Raises Holdings in Copart, Inc. (NASDAQ:CPRT)

Focus Partners Wealth lifted its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 1.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 87,840 shares of the business services provider’s stock after acquiring an additional 1,170 shares during the period. Focus Partners Wealth’s holdings in Copart were worth $5,041,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Copart by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 102,129,032 shares of the business services provider’s stock worth $5,861,185,000 after acquiring an additional 976,909 shares during the last quarter. Edgewood Management LLC grew its stake in shares of Copart by 14.1% during the fourth quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider’s stock worth $1,346,548,000 after acquiring an additional 2,907,405 shares during the last quarter. Capital World Investors grew its stake in shares of Copart by 0.8% during the fourth quarter. Capital World Investors now owns 21,353,932 shares of the business services provider’s stock worth $1,225,502,000 after acquiring an additional 169,354 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Copart by 23.3% during the fourth quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider’s stock worth $1,115,664,000 after acquiring an additional 3,667,534 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Copart by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 19,172,603 shares of the business services provider’s stock valued at $1,097,153,000 after buying an additional 408,677 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling at Copart

In other Copart news, Director James E. Meeks sold 100,000 shares of the business’s stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven D. Cohan sold 94,997 shares of the business’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $60.01, for a total value of $5,700,769.97. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 200,000 shares of company stock valued at $11,401,000. 9.68% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Copart Stock Up 0.0%

Shares of NASDAQ CPRT opened at $62.42 on Thursday. The business’s 50 day moving average price is $57.77 and its 200 day moving average price is $57.81. The firm has a market cap of $60.30 billion, a P/E ratio of 41.89 and a beta of 1.20. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. As a group, research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

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.