Merit Financial Group LLC Has $7.32 Million Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Merit Financial Group LLC increased its position in Copart, Inc. (NASDAQ:CPRTFree Report) by 13.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 127,532 shares of the business services provider’s stock after buying an additional 14,935 shares during the quarter. Merit Financial Group LLC’s holdings in Copart were worth $7,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in 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 grew its stake 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 worth $1,789,877,000 after purchasing an additional 120,939 shares during the last quarter. 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 purchasing an additional 125,220 shares during the period. Geode Capital Management LLC raised its position in 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 worth $979,547,000 after purchasing an additional 291,580 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in Copart by 9.4% during the 2nd 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. Institutional investors own 85.78% of the company’s stock.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. increased 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.

View Our Latest Stock Report on CPRT

Copart Stock Performance

NASDAQ:CPRT opened at $56.90 on Friday. Copart, Inc. has a 52 week low of $47.51 and a 52 week high of $64.38. The firm’s fifty day moving average is $59.07 and its 200-day moving average is $54.71. The firm has a market cap of $54.82 billion, a P/E ratio of 40.07 and a beta of 1.33.

Copart (NASDAQ:CPRTGet Free Report) last issued its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, meeting analysts’ consensus estimates 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 analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the firm posted $0.34 earnings per share. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Activity at Copart

In related news, Chairman A Jayson Adair sold 251,423 shares of the stock in a transaction 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 directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas N. Tryforos sold 83,310 shares of the firm’s stock in a transaction 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 completion of the sale, the director now owns 7,850 shares of the company’s stock, valued at $485,601. The trade was a 91.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 650,213 shares of company stock worth $39,199,813 in the last 90 days. Corporate insiders own 9.68% of the company’s stock.

About Copart

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding CPRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Copart, Inc. (NASDAQ:CPRTFree Report).

Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

Receive News & Ratings for Copart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Copart and related companies with MarketBeat.com's FREE daily email newsletter.