Copart, Inc. (NASDAQ:CPRT) Shares Purchased by Procyon Advisors LLC

Procyon Advisors LLC grew its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 4.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,111 shares of the business services provider’s stock after buying an additional 1,962 shares during the period. Procyon Advisors LLC’s holdings in Copart were worth $2,646,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Cadence Bank boosted its stake in shares of Copart by 0.6% during the 3rd quarter. Cadence Bank now owns 31,549 shares of the business services provider’s stock worth $1,653,000 after purchasing an additional 178 shares during the last quarter. Everpar Advisors LLC raised its holdings in Copart by 4.3% in the 4th quarter. Everpar Advisors LLC now owns 4,811 shares of the business services provider’s stock valued at $276,000 after acquiring an additional 199 shares during the last quarter. Duncan Williams Asset Management LLC lifted its stake in shares of Copart by 1.3% during the 3rd quarter. Duncan Williams Asset Management LLC now owns 15,437 shares of the business services provider’s stock worth $809,000 after purchasing an additional 203 shares during the period. Fifth Third Wealth Advisors LLC boosted its holdings in shares of Copart by 2.3% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 9,226 shares of the business services provider’s stock worth $529,000 after purchasing an additional 208 shares during the last quarter. Finally, Covestor Ltd lifted its position in Copart by 5.1% during the third quarter. Covestor Ltd now owns 4,299 shares of the business services provider’s stock worth $225,000 after buying an additional 209 shares during the period. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Chairman A Jayson Adair sold 251,423 shares of the business’s stock in a transaction dated 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 completion of the sale, the chairman now owns 14,436,557 shares of the company’s stock, valued at $920,907,971.03. This represents a 1.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas N. Tryforos sold 83,310 shares of the company’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 value of $5,153,556.60. Following the transaction, the director now directly owns 7,850 shares of the company’s stock, valued at $485,601. This trade represents a 91.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 650,213 shares of company stock worth $39,199,813. 9.68% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lifted 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 Price Performance

Shares of NASDAQ:CPRT opened at $56.40 on Friday. The firm has a market capitalization of $54.34 billion, a PE ratio of 39.72 and a beta of 1.33. Copart, Inc. has a 12 month low of $47.31 and a 12 month high of $64.38. The business has a 50-day moving average of $59.06 and a two-hundred day moving average of $54.69.

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

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.