Logan Capital Management Inc. Sells 10,459 Shares of Copart, Inc. (NASDAQ:CPRT)

Logan Capital Management Inc. cut its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 3.2% during the 4th quarter, Holdings Channel reports. The fund owned 319,058 shares of the business services provider’s stock after selling 10,459 shares during the period. Logan Capital Management Inc.’s holdings in Copart were worth $18,311,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Mn Services Vermogensbeheer B.V. raised its stake in Copart by 2.5% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 339,680 shares of the business services provider’s stock worth $19,494,000 after buying an additional 8,300 shares during the period. National Pension Service lifted its holdings in shares of Copart by 3.2% in the 4th quarter. National Pension Service now owns 1,558,067 shares of the business services provider’s stock worth $89,417,000 after purchasing an additional 48,334 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its holdings in Copart by 289.6% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 34,322 shares of the business services provider’s stock worth $1,970,000 after buying an additional 25,512 shares during the last quarter. Tsai Capital Corp lifted its stake in shares of Copart by 13.3% in the fourth quarter. Tsai Capital Corp now owns 61,689 shares of the business services provider’s stock valued at $3,540,000 after buying an additional 7,230 shares in the last quarter. Finally, Kieckhefer Group LLC acquired a new position in shares of Copart during the fourth quarter valued at about $3,962,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Stock Down 0.4%

CPRT stock opened at $61.52 on Monday. The stock has a 50-day simple moving average of $57.26 and a two-hundred day simple moving average of $57.67. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38. The firm has a market capitalization of $59.43 billion, a PE ratio of 41.29 and a beta of 1.20.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates 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%. On average, equities research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Steven D. Cohan sold 94,997 shares of Copart stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $60.01, for a total value of $5,700,769.97. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director James E. Meeks sold 100,000 shares of the stock in a transaction dated 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 worth $11,401,000 in the last ninety days. 9.68% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Argus lowered shares of Copart from a “buy” rating to a “hold” rating in a research note 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.