Independence Bank of Kentucky Has $354,000 Stake in Copart, Inc. (NASDAQ:CPRT)

Independence Bank of Kentucky boosted its stake in Copart, Inc. (NASDAQ:CPRTFree Report) by 114.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,218 shares of the business services provider’s stock after acquiring an additional 3,850 shares during the quarter. Independence Bank of Kentucky’s holdings in Copart were worth $354,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Copart by 1,212.2% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,110 shares of the business services provider’s stock worth $390,000 after acquiring an additional 2,873 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in shares of Copart by 14.6% during the 1st quarter. Panagora Asset Management Inc. now owns 8,456 shares of the business services provider’s stock worth $1,061,000 after buying an additional 1,079 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in shares of Copart by 52.1% in the 1st quarter. Vontobel Holding Ltd. now owns 10,823 shares of the business services provider’s stock valued at $1,380,000 after acquiring an additional 3,707 shares in the last quarter. National Pension Service lifted its stake in Copart by 5.0% in the first quarter. National Pension Service now owns 286,903 shares of the business services provider’s stock valued at $35,998,000 after acquiring an additional 13,666 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Copart by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 22,968,882 shares of the business services provider’s stock valued at $2,881,905,000 after purchasing an additional 270,867 shares during the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CPRT shares. StockNews.com downgraded shares of Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. JPMorgan Chase & Co. started coverage on shares of Copart in a research note on Tuesday, February 27th. They set a “neutral” rating and a $48.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $50.00.

Get Our Latest Analysis on CPRT

Copart Price Performance

CPRT opened at $57.25 on Wednesday. Copart, Inc. has a fifty-two week low of $36.78 and a fifty-two week high of $58.58. The company’s 50-day moving average is $52.83 and its 200 day moving average is $49.06. The firm has a market capitalization of $55.05 billion, a P/E ratio of 41.19 and a beta of 1.22.

Copart (NASDAQ:CPRTGet Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.02). Copart had a return on equity of 21.55% and a net margin of 33.41%. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the business posted $0.31 EPS. The company’s revenue was up 6.6% compared to the same quarter last year. On average, equities research analysts expect that Copart, Inc. will post 1.42 earnings per share for the current year.

Insider Buying and Selling at Copart

In other news, Director Thomas N. Tryforos sold 285,000 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the transaction, the director now directly owns 35,000 shares in the company, valued at approximately $1,934,450. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Thomas N. Tryforos sold 285,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the completion of the sale, the director now owns 35,000 shares of the company’s stock, valued at $1,934,450. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Matt Blunt sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $51.06, for a total value of $5,106,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 985,000 shares of company stock valued at $55,519,950 in the last 90 days. Corporate insiders own 10.23% of the company’s stock.

About Copart

(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.

See Also

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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