Passumpsic Savings Bank Sells 1,930 Shares of Copart, Inc. (NASDAQ:CPRT)

Passumpsic Savings Bank lowered its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 2.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,499 shares of the business services provider’s stock after selling 1,930 shares during the period. Copart accounts for 2.5% of Passumpsic Savings Bank’s investment portfolio, making the stock its 10th largest holding. Passumpsic Savings Bank’s holdings in Copart were worth $3,851,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CPRT. Principal Financial Group Inc. increased its position in Copart by 2.5% in the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock valued at $2,037,130,000 after acquiring an additional 941,858 shares during the period. State Street Corp increased its holdings in shares of Copart by 0.4% in the third quarter. State Street Corp now owns 34,157,967 shares of the business services provider’s stock valued at $1,789,877,000 after purchasing an additional 120,939 shares during the period. Edgewood Management LLC raised its stake in shares of Copart by 0.6% during the third quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider’s stock worth $1,077,119,000 after purchasing an additional 125,220 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Copart by 1.6% during the third quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider’s stock worth $979,547,000 after purchasing an additional 291,580 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Copart by 8.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider’s stock valued at $867,017,000 after buying an additional 1,199,781 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CPRT. JPMorgan Chase & Co. upped their price objective on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Robert W. Baird reduced their price objective on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th.

Copart Stock Performance

NASDAQ:CPRT opened at $61.52 on Wednesday. Copart, Inc. has a 1 year low of $46.21 and a 1 year high of $64.38. The stock has a fifty day moving average price of $56.44 and a two-hundred day moving average price of $53.87. The stock has a market capitalization of $59.28 billion, a price-to-earnings ratio of 43.32 and a beta of 1.31.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, meeting the consensus estimate of $0.37. Copart had a net margin of 31.92% and a return on equity of 18.96%. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the business earned $0.34 earnings per share. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Insider Transactions at Copart

In other Copart news, Chairman A Jayson Adair sold 251,423 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total value of $16,038,273.17. Following the sale, the chairman now owns 14,436,557 shares of the company’s stock, valued at $920,907,971.03. This represents a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas N. Tryforos sold 83,310 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $61.86, for a total transaction of $5,153,556.60. Following the transaction, the director now directly owns 7,850 shares of the company’s stock, valued at approximately $485,601. This trade represents a 91.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.68% of the company’s stock.

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.