Suncoast Equity Management Sells 850 Shares of Copart, Inc. (NASDAQ:CPRT)

Suncoast Equity Management decreased its holdings in Copart, Inc. (NASDAQ:CPRT) by 3.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,840 shares of the business services provider’s stock after selling 850 shares during the quarter. Suncoast Equity Management’s holdings in Copart were worth $1,168,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CPRT. United Asset Strategies Inc. lifted its holdings in Copart by 11.6% during the fourth quarter. United Asset Strategies Inc. now owns 16,885 shares of the business services provider’s stock valued at $827,000 after purchasing an additional 1,752 shares in the last quarter. Prosperitas Financial LLC lifted its holdings in shares of Copart by 253.8% in the fourth quarter. Prosperitas Financial LLC now owns 31,588 shares of the business services provider’s stock worth $1,548,000 after buying an additional 22,659 shares in the last quarter. SVB Wealth LLC lifted its holdings in shares of Copart by 11.5% in the fourth quarter. SVB Wealth LLC now owns 12,167 shares of the business services provider’s stock worth $596,000 after buying an additional 1,255 shares in the last quarter. Donaldson Capital Management LLC lifted its holdings in shares of Copart by 2.2% in the fourth quarter. Donaldson Capital Management LLC now owns 89,803 shares of the business services provider’s stock worth $4,400,000 after buying an additional 1,966 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of Copart by 243.3% in the fourth quarter. Mackenzie Financial Corp now owns 3,839,773 shares of the business services provider’s stock worth $188,149,000 after buying an additional 2,721,412 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CPRT shares. JPMorgan Chase & Co. boosted their price objective on shares of Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. StockNews.com lowered shares of Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $51.00.

Insider Buying and Selling at Copart

In other Copart news, Director Thomas N. Tryforos sold 285,000 shares of the stock in a transaction dated Wednesday, March 13th. The shares were 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 directly 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 this link. In other news, Director Matt Blunt sold 100,000 shares of the firm’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 transaction of $5,106,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas N. Tryforos sold 285,000 shares of the firm’s 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 sale, the director now directly owns 35,000 shares in the company, valued at approximately $1,934,450. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 985,000 shares of company stock valued at $55,519,950. 10.23% of the stock is currently owned by insiders.

Copart Stock Up 0.1 %

NASDAQ:CPRT traded up $0.08 during mid-day trading on Tuesday, reaching $54.83. The company’s stock had a trading volume of 1,517,944 shares, compared to its average volume of 4,612,218. Copart, Inc. has a 1 year low of $38.35 and a 1 year high of $58.58. The stock has a fifty day moving average of $54.12 and a 200-day moving average of $49.85. The firm has a market capitalization of $52.72 billion, a PE ratio of 39.39 and a beta of 1.22.

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

Copart 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.