Sovereign s Capital Management LLC Takes Position in Copart, Inc. (NASDAQ:CPRT)

Sovereign s Capital Management LLC purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,044 shares of the business services provider’s stock, valued at approximately $462,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. HighPoint Advisor Group LLC increased its position in Copart by 1.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 9,747 shares of the business services provider’s stock valued at $577,000 after acquiring an additional 175 shares during the period. Sandy Spring Bank grew its stake in shares of Copart by 59.5% in the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock worth $27,000 after purchasing an additional 176 shares during the last quarter. Lindbrook Capital LLC increased its holdings in Copart by 3.2% in the fourth quarter. Lindbrook Capital LLC now owns 6,007 shares of the business services provider’s stock valued at $345,000 after purchasing an additional 184 shares during the period. Oregon Public Employees Retirement Fund raised its position in Copart by 0.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 75,170 shares of the business services provider’s stock worth $4,314,000 after purchasing an additional 200 shares during the last quarter. Finally, Simmons Bank lifted its holdings in Copart by 4.4% during the 4th quarter. Simmons Bank now owns 4,728 shares of the business services provider’s stock worth $271,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Activity

In other Copart news, Director Steven D. Cohan sold 5,003 shares of Copart stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $60.01, for a total value of $300,230.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James E. Meeks sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total value of $5,400,000.00. The disclosure for this sale can be found here. Insiders have sold 200,000 shares of company stock valued at $11,401,000 in the last ninety days. 9.68% of the stock is owned by company insiders.

Copart Stock Performance

Shares of NASDAQ CPRT opened at $63.84 on Monday. The company’s 50 day moving average price is $58.19 and its 200-day moving average price is $58.05. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The company has a market capitalization of $61.68 billion, a P/E ratio of 42.85 and a beta of 1.20.

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

Wall Street Analysts Forecast Growth

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

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.