Peapack Gladstone Financial Corp Purchases 6,385 Shares of Copart, Inc. (NASDAQ:CPRT)

Peapack Gladstone Financial Corp increased its position in Copart, Inc. (NASDAQ:CPRT) by 6.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 104,650 shares of the business services provider’s stock after purchasing an additional 6,385 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Copart were worth $5,484,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CPRT. Principal Financial Group Inc. lifted 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 acquiring an additional 941,858 shares during the period. State Street Corp lifted its stake 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 purchasing an additional 120,939 shares during the period. Edgewood Management LLC lifted its stake in 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 period. Geode Capital Management LLC boosted its holdings in 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 valued at $979,547,000 after purchasing an additional 291,580 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of 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 purchasing an additional 1,199,781 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insiders Place Their Bets

In other news, Director Thomas N. Tryforos sold 83,310 shares of Copart stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $61.86, for a total value of $5,153,556.60. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman A Jayson Adair sold 251,423 shares of the firm’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 completion of the transaction, the chairman now owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. This represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders own 9.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CPRT shares. JPMorgan Chase & Co. boosted their price target on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Robert W. Baird reduced their target price on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th.

Copart Trading Down 1.4 %

NASDAQ:CPRT opened at $61.23 on Friday. The stock has a market capitalization of $59.00 billion, a P/E ratio of 43.12 and a beta of 1.31. Copart, Inc. has a 1 year low of $46.21 and a 1 year high of $64.38. The firm has a 50 day moving average of $57.01 and a 200-day moving average of $54.03.

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

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.