Copart, Inc. (NASDAQ:CPRT) is Passumpsic Savings Bank’s 10th Largest Position

Passumpsic Savings Bank lessened its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 2.6% during the third quarter, HoldingsChannel reports. The firm owned 73,499 shares of the business services provider’s stock after selling 1,930 shares during the quarter. Copart accounts for approximately 2.5% of Passumpsic Savings Bank’s investment portfolio, making the stock its 10th largest holding. Passumpsic Savings Bank’s holdings in Copart were worth $3,851,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Optimum Investment Advisors boosted its stake in Copart by 141.5% in the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after buying an additional 300 shares during the last quarter. Eastern Bank acquired a new stake in shares of Copart in the third quarter worth approximately $29,000. Quarry LP acquired a new position in Copart during the third quarter worth approximately $29,000. Crewe Advisors LLC increased its position in Copart by 98.6% during the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock worth $31,000 after purchasing an additional 280 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its stake in Copart by 283.3% during the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock worth $31,000 after purchasing an additional 425 shares during the period. Hedge funds and other institutional investors 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 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 sale, the chairman now owns 14,436,557 shares of the company’s stock, valued at $920,907,971.03. The trade was a 1.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thomas N. Tryforos sold 83,310 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 7,850 shares of the company’s stock, valued at $485,601. This represents a 91.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.68% of the company’s stock.

Wall Street Analyst Weigh In

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

Copart Stock Down 0.4 %

CPRT opened at $61.52 on Wednesday. Copart, Inc. has a 52-week low of $46.21 and a 52-week high of $64.38. The company has a 50 day moving average of $56.44 and a two-hundred day moving average of $53.87. The company has a market cap of $59.28 billion, a P/E ratio of 43.32 and a beta of 1.31.

Copart (NASDAQ:CPRT) last posted 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 analyst estimates of $1.10 billion. During the same quarter in the previous year, the business posted $0.34 EPS. The business’s quarterly revenue was up 12.4% on a year-over-year basis. Research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

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.