WASHINGTON TRUST Co Sells 1,724 Shares of Copart, Inc. (NASDAQ:CPRT)

WASHINGTON TRUST Co lowered its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 2.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 60,128 shares of the business services provider’s stock after selling 1,724 shares during the quarter. WASHINGTON TRUST Co’s holdings in Copart were worth $3,451,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Center for Financial Planning Inc. bought a new stake in shares of Copart during the fourth quarter valued at approximately $78,000. ABC Arbitrage SA acquired a new position in Copart during the 4th quarter worth $1,149,000. V Square Quantitative Management LLC boosted its position in Copart by 6.0% in the 4th quarter. V Square Quantitative Management LLC now owns 14,712 shares of the business services provider’s stock valued at $844,000 after buying an additional 832 shares during the last quarter. Sunburst Financial Group LLC acquired a new stake in shares of Copart in the 4th quarter valued at $204,000. Finally, Buckhead Capital Management LLC raised its position in shares of Copart by 2.3% during the fourth quarter. Buckhead Capital Management LLC now owns 14,299 shares of the business services provider’s stock worth $821,000 after acquiring an additional 318 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Transactions at Copart

In related news, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the transaction, the chairman now owns 14,436,557 shares of the company’s stock, valued at $920,907,971.03. This trade represents a 1.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 650,213 shares of company stock worth $39,199,813. 9.68% of the stock is currently owned by company insiders.

Copart Stock Performance

Shares of CPRT stock opened at $59.39 on Friday. The firm’s 50 day moving average price is $58.29 and its two-hundred day moving average price is $55.41. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The stock has a market cap of $57.22 billion, a PE ratio of 41.82 and a beta of 1.33.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The firm’s revenue was up 12.4% on a year-over-year basis. During the same period last year, the company earned $0.34 EPS. As a group, sell-side analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.