Segment Wealth Management LLC Trims Stock Position in Copart, Inc. (NASDAQ:CPRT)

Segment Wealth Management LLC lessened its position in shares of Copart, Inc. (NASDAQ:CPRT) by 1.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 40,348 shares of the business services provider’s stock after selling 525 shares during the quarter. Segment Wealth Management LLC’s holdings in Copart were worth $2,316,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its holdings in shares of Copart by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock worth $2,037,130,000 after purchasing an additional 941,858 shares during the period. State Street Corp lifted its position in 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 buying an additional 120,939 shares during the last quarter. Edgewood Management LLC boosted its position in shares of Copart by 0.6% during the 3rd 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 period. Geode Capital Management LLC raised its position in Copart by 1.6% in the third quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider’s stock valued at $979,547,000 after purchasing an additional 291,580 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Copart by 9.4% during the second quarter. Legal & General Group Plc now owns 6,943,042 shares of the business services provider’s stock worth $376,035,000 after buying an additional 598,566 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Performance

Copart stock opened at $56.90 on Tuesday. The company has a market capitalization of $54.82 billion, a P/E ratio of 40.07 and a beta of 1.33. Copart, Inc. has a fifty-two week low of $47.51 and a fifty-two week high of $64.38. The stock has a 50-day simple moving average of $59.08 and a 200-day simple moving average of $54.74.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share 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 business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the firm earned $0.34 earnings per share. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Thomas N. Tryforos sold 83,310 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now directly owns 7,850 shares in the company, valued at $485,601. This trade represents a 91.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman A Jayson Adair sold 251,423 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $920,907,971.03. The trade was a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 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.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. increased 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.

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.