Bright Rock Capital Management LLC Reduces Stake in Copart, Inc. (NASDAQ:CPRT)

Bright Rock Capital Management LLC lessened its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 11.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 162,000 shares of the business services provider’s stock after selling 20,000 shares during the period. Copart accounts for approximately 2.0% of Bright Rock Capital Management LLC’s portfolio, making the stock its 19th biggest position. Bright Rock Capital Management LLC’s holdings in Copart were worth $9,297,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CPRT. Wallace Advisory Group LLC grew its position in Copart by 16.3% in the fourth quarter. Wallace Advisory Group LLC now owns 10,572 shares of the business services provider’s stock worth $554,000 after acquiring an additional 1,480 shares during the period. Signal Advisors Wealth LLC lifted its stake in shares of Copart by 42.0% in the 4th quarter. Signal Advisors Wealth LLC now owns 54,055 shares of the business services provider’s stock valued at $3,102,000 after purchasing an additional 15,993 shares during the last quarter. Unique Wealth LLC lifted its stake in shares of Copart by 43.9% in the 4th quarter. Unique Wealth LLC now owns 5,858 shares of the business services provider’s stock valued at $336,000 after purchasing an additional 1,788 shares during the last quarter. Eastern Bank grew its holdings in shares of Copart by 115.1% during the 4th quarter. Eastern Bank now owns 1,196 shares of the business services provider’s stock worth $69,000 after purchasing an additional 640 shares during the period. Finally, Wedmont Private Capital increased its position in shares of Copart by 2.0% during the 4th quarter. Wedmont Private Capital now owns 17,408 shares of the business services provider’s stock worth $969,000 after purchasing an additional 334 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Trading Up 1.1 %

Shares of NASDAQ CPRT opened at $56.22 on Wednesday. Copart, Inc. has a twelve month low of $47.31 and a twelve month high of $64.38. The stock has a fifty day simple moving average of $58.96 and a 200-day simple moving average of $54.65. The stock has a market capitalization of $54.17 billion, a PE ratio of 39.59 and a beta of 1.33.

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

Insider Activity at Copart

In other Copart news, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman A Jayson Adair sold 251,423 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was 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 in the company, valued at $920,907,971.03. The trade was a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 650,213 shares of company stock worth $39,199,813. Corporate insiders own 9.68% of the company’s stock.

Analysts Set New Price Targets

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

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.