UMB Bank n.a. Raises Position in Copart, Inc. (NASDAQ:CPRT)

UMB Bank n.a. grew its position in shares of Copart, Inc. (NASDAQ:CPRT) by 0.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 307,050 shares of the business services provider’s stock after buying an additional 2,884 shares during the quarter. UMB Bank n.a.’s holdings in Copart were worth $17,376,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insiders Place Their Bets

In related news, Director James E. Meeks sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total transaction of $5,400,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven D. Cohan sold 94,997 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $60.01, for a total transaction of $5,700,769.97. The disclosure for this sale can be found here. Insiders sold a total of 200,000 shares of company stock worth $11,401,000 over the last quarter. 9.68% of the stock is currently owned by corporate insiders.

Copart Trading Down 0.0%

Shares of NASDAQ CPRT opened at $50.13 on Friday. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38. The firm has a market capitalization of $48.43 billion, a price-to-earnings ratio of 33.64 and a beta of 1.10. The firm has a 50 day moving average of $58.14 and a 200 day moving average of $57.89.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. Copart had a net margin of 32.27% and a return on equity of 19.31%. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the previous year, the firm posted $0.39 EPS. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. Sell-side analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CPRT. JPMorgan Chase & Co. reduced their price target on shares of Copart from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, May 23rd. Argus cut Copart from a “buy” rating to a “hold” rating in a research report 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.