Quent Capital LLC Lowers Stock Position in Copart, Inc. (NASDAQ:CPRT)

Quent Capital LLC trimmed its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 4.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,212 shares of the business services provider’s stock after selling 273 shares during the period. Quent Capital LLC’s holdings in Copart were worth $357,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CPRT. Principal Financial Group Inc. increased its holdings in shares of 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 purchasing an additional 941,858 shares in the last quarter. State Street Corp grew its position in Copart by 0.4% during the third quarter. State Street Corp now owns 34,157,967 shares of the business services provider’s stock worth $1,789,877,000 after buying an additional 120,939 shares during the period. Edgewood Management LLC increased its holdings in Copart by 0.6% in the third quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider’s stock valued at $1,077,119,000 after buying an additional 125,220 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Copart by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider’s stock valued at $979,547,000 after acquiring an additional 291,580 shares during the period. Finally, Barclays PLC boosted its stake in shares of Copart by 0.4% during the 3rd quarter. Barclays PLC now owns 6,042,734 shares of the business services provider’s stock worth $316,639,000 after acquiring an additional 21,710 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Price Performance

CPRT opened at $59.23 on Wednesday. Copart, Inc. has a 12 month low of $48.05 and a 12 month high of $64.38. The business has a 50-day moving average of $58.46 and a two-hundred day moving average of $55.29. The stock has a market capitalization of $57.07 billion, a price-to-earnings ratio of 41.71 and a beta of 1.33.

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

Insider Buying and Selling at Copart

In other news, Director Thomas N. Tryforos sold 83,310 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $61.86, for a total transaction of $5,153,556.60. Following the completion of the sale, the director now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Diane M. Morefield sold 30,000 shares of Copart stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the completion of the sale, the director now owns 20,000 shares of the company’s stock, valued at approximately $1,160,200. This trade represents a 60.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 650,213 shares of company stock valued at $39,199,813 in the last ninety days. Insiders own 9.68% of the company’s stock.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. raised their price objective on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th.

Copart Company 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.