WASHINGTON TRUST Co Has $9.28 Million Stock Holdings in Copart, Inc. $CPRT

WASHINGTON TRUST Co raised its stake in Copart, Inc. (NASDAQ:CPRT) by 7.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 189,182 shares of the business services provider’s stock after purchasing an additional 12,440 shares during the period. WASHINGTON TRUST Co’s holdings in Copart were worth $9,283,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Atticus Wealth Management LLC purchased a new stake in shares of Copart in the second quarter worth approximately $31,000. Ameritas Advisory Services LLC purchased a new stake in Copart in the 2nd quarter valued at $31,000. Creekmur Asset Management LLC raised its position in Copart by 1,063.0% in the 2nd quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock valued at $31,000 after buying an additional 574 shares during the last quarter. Accent Capital Management LLC bought a new position in Copart during the 1st quarter valued at $36,000. Finally, Bank of Jackson Hole Trust boosted its holdings in Copart by 83.8% during the 2nd quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock worth $36,000 after acquiring an additional 335 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CPRT has been the topic of a number of research analyst reports. HSBC set a $62.00 target price on Copart and gave the stock a “buy” rating in a research note on Thursday, September 4th. Barclays set a $32.00 price objective on shares of Copart in a research report on Tuesday. Hsbc Global Res upgraded shares of Copart from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. Finally, Robert W. Baird reduced their price objective on Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Copart has a consensus rating of “Hold” and a consensus target price of $50.00.

Insider Buying and Selling at Copart

In other news, Director Thomas N. Tryforos sold 228,840 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $47.54, for a total value of $10,879,053.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey Liaw sold 24,283 shares of the stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total value of $1,087,635.57. Following the sale, the chief executive officer owned 31,332 shares in the company, valued at $1,403,360.28. The trade was a 43.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 9.60% of the company’s stock.

Copart Stock Up 0.7%

Shares of CPRT traded up $0.30 during trading hours on Thursday, reaching $41.58. 1,170,939 shares of the company traded hands, compared to its average volume of 6,124,202. The company has a market capitalization of $40.24 billion, a price-to-earnings ratio of 26.03 and a beta of 1.06. The company’s fifty day moving average price is $44.80 and its two-hundred day moving average price is $48.83. Copart, Inc. has a 12 month low of $39.58 and a 12 month high of $64.38.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.04. Copart had a net margin of 33.41% and a return on equity of 18.17%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the company earned $0.33 earnings per share. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

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.