JLB & Associates Inc. Reduces Stake in Copart, Inc. (NASDAQ:CPRT)

JLB & Associates Inc. trimmed its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 4.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 417,452 shares of the business services provider’s stock after selling 18,063 shares during the quarter. Copart accounts for approximately 3.3% of JLB & Associates Inc.’s holdings, making the stock its 9th biggest holding. JLB & Associates Inc.’s holdings in Copart were worth $23,624,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Sandy Spring Bank grew its position in shares of Copart by 59.5% in the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock worth $27,000 after buying an additional 176 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in Copart during the fourth quarter valued at approximately $31,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Copart in the fourth quarter valued at approximately $45,000. Versant Capital Management Inc grew its holdings in Copart by 1,567.9% in the first quarter. Versant Capital Management Inc now owns 884 shares of the business services provider’s stock worth $50,000 after purchasing an additional 831 shares during the last quarter. Finally, Curio Wealth LLC acquired a new position in shares of Copart during the fourth quarter worth $52,000. Institutional investors own 85.78% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CPRT. JPMorgan Chase & Co. lowered their price objective on Copart from $60.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, May 23rd. Argus cut Copart from a “buy” rating to a “hold” rating in a research note on Friday, March 14th.

Insider Buying and Selling

In other news, Director James E. Meeks sold 100,000 shares of the stock in a transaction dated 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 SEC, which is available through this link. Also, Director Steven D. Cohan sold 94,997 shares of Copart stock in a transaction dated Monday, April 14th. The stock was 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. Insiders sold 200,000 shares of company stock worth $11,401,000 in the last 90 days. Insiders own 9.68% of the company’s stock.

Copart Stock Down 0.4%

CPRT stock opened at $48.39 on Tuesday. The stock has a market capitalization of $46.79 billion, a PE ratio of 32.48 and a beta of 1.10. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38. The firm has a 50 day moving average of $57.46 and a 200 day moving average of $57.32.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the company posted $0.39 earnings per share. On average, equities 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.