Whittier Trust Co. Sells 275,981 Shares of Copart, Inc. $CPRT

Whittier Trust Co. decreased its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 52.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 250,218 shares of the business services provider’s stock after selling 275,981 shares during the quarter. Whittier Trust Co.’s holdings in Copart were worth $8,217,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. NBT Bank N A NY lifted its holdings in Copart by 708.8% during the first quarter. NBT Bank N A NY now owns 2,952 shares of the business services provider’s stock worth $98,000 after acquiring an additional 2,587 shares in the last quarter. QRG Capital Management Inc. increased its holdings in shares of Copart by 8.2% in the first quarter. QRG Capital Management Inc. now owns 120,591 shares of the business services provider’s stock worth $4,004,000 after acquiring an additional 9,090 shares in the last quarter. HB Wealth Management LLC raised its position in shares of Copart by 5.6% during the first quarter. HB Wealth Management LLC now owns 47,371 shares of the business services provider’s stock worth $1,573,000 after purchasing an additional 2,503 shares during the period. Prevatt Capital Ltd raised its position in shares of Copart by 64.7% during the first quarter. Prevatt Capital Ltd now owns 700,000 shares of the business services provider’s stock worth $23,240,000 after purchasing an additional 275,000 shares during the period. Finally, Private Advisor Group LLC lifted its holdings in shares of Copart by 5.9% during the 1st quarter. Private Advisor Group LLC now owns 39,274 shares of the business services provider’s stock valued at $1,304,000 after purchasing an additional 2,177 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CPRT. Weiss Ratings downgraded shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Jefferies Financial Group set a $45.00 price objective on shares of Copart in a research report on Friday, May 22nd. Freedom Capital raised shares of Copart to a “strong-buy” rating in a research note on Friday, June 26th. Finally, Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Three analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $44.50.

Copart Trading Up 0.9%

Shares of CPRT traded up $0.27 during midday trading on Tuesday, reaching $29.50. The stock had a trading volume of 1,850,692 shares, compared to its average volume of 9,868,631. The firm has a market cap of $27.32 billion, a PE ratio of 18.31 and a beta of 1.02. The firm has a 50 day simple moving average of $31.69 and a 200-day simple moving average of $35.16. Copart, Inc. has a one year low of $27.84 and a one year high of $50.11.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. Copart had a return on equity of 16.63% and a net margin of 33.48%.The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the firm posted $0.42 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. As a group, research analysts forecast that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jeffrey Liaw sold 26,213 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total value of $869,747.34. Following the transaction, the chief executive officer directly owned 79,532 shares in the company, valued at approximately $2,638,871.76. This represents a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 9.60% of the stock is currently owned by corporate insiders.

Copart Profile

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.