Synovus Financial Corp Purchases 1,939 Shares of Copart, Inc. (NASDAQ:CPRT)

Synovus Financial Corp increased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 123,617 shares of the business services provider’s stock after purchasing an additional 1,939 shares during the period. Synovus Financial Corp’s holdings in Copart were worth $7,094,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Copart by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 102,129,032 shares of the business services provider’s stock valued at $5,861,185,000 after acquiring an additional 976,909 shares during the period. Principal Financial Group Inc. boosted its holdings in Copart by 2.5% in the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock valued at $2,037,130,000 after purchasing an additional 941,858 shares during the period. Edgewood Management LLC grew its position in shares of Copart by 14.1% during the 4th quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider’s stock worth $1,346,548,000 after purchasing an additional 2,907,405 shares in the last quarter. Bank of New York Mellon Corp increased its holdings 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 purchasing an additional 3,667,534 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of 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 in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Copart

In related news, Director James E. Meeks sold 100,000 shares of Copart stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total transaction of $5,400,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 9.68% of the stock is owned by insiders.

Copart Stock Up 2.0 %

CPRT stock opened at $59.84 on Monday. The company’s 50-day moving average price is $56.12 and its two-hundred day moving average price is $56.67. The firm has a market cap of $57.81 billion, a P/E ratio of 40.16 and a beta of 1.22. Copart, Inc. has a 12 month low of $48.05 and a 12 month high of $64.38.

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

Analyst Upgrades and Downgrades

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

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.