Bridges Investment Management Inc. Buys 4,444 Shares of Copart, Inc. (NASDAQ:CPRT)

Bridges Investment Management Inc. increased its stake in shares of Copart, Inc. (NASDAQ:CPRTFree Report) by 1.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 334,159 shares of the business services provider’s stock after buying an additional 4,444 shares during the period. Bridges Investment Management Inc.’s holdings in Copart were worth $16,374,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of CPRT. Veritable L.P. boosted its holdings in Copart by 0.9% in the 1st quarter. Veritable L.P. now owns 15,198 shares of the business services provider’s stock valued at $1,143,000 after purchasing an additional 136 shares during the period. Retirement Systems of Alabama boosted its holdings in Copart by 0.3% in the 3rd quarter. Retirement Systems of Alabama now owns 71,048 shares of the business services provider’s stock valued at $7,560,000 after purchasing an additional 189 shares during the period. Hollencrest Capital Management boosted its holdings in Copart by 92.1% in the 1st quarter. Hollencrest Capital Management now owns 438 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 210 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in Copart by 3.9% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 5,640 shares of the business services provider’s stock valued at $600,000 after purchasing an additional 213 shares during the period. Finally, Simon Quick Advisors LLC boosted its holdings in Copart by 2.6% in the 1st quarter. Simon Quick Advisors LLC now owns 9,286 shares of the business services provider’s stock valued at $698,000 after purchasing an additional 238 shares during the period. Institutional investors own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CPRT shares. StockNews.com downgraded shares of Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. JPMorgan Chase & Co. started coverage on shares of Copart in a report on Tuesday, February 27th. They set a “neutral” rating and a $48.00 price target for the company. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $50.00.

Check Out Our Latest Report on Copart

Insider Transactions at Copart

In other news, Chairman A Jayson Adair sold 600,000 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the completion of the sale, the chairman now directly owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Matt Blunt sold 100,000 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $51.06, for a total transaction of $5,106,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman A Jayson Adair sold 600,000 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the transaction, the chairman now directly owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The disclosure for this sale can be found here. Insiders sold a total of 985,000 shares of company stock worth $55,519,950 over the last three months. 10.23% of the stock is owned by company insiders.

Copart Stock Performance

Shares of NASDAQ CPRT opened at $58.01 on Thursday. Copart, Inc. has a 52-week low of $36.78 and a 52-week high of $58.58. The firm has a 50 day moving average price of $53.01 and a two-hundred day moving average price of $49.11. The stock has a market cap of $55.78 billion, a P/E ratio of 41.27 and a beta of 1.22.

Copart (NASDAQ:CPRTGet Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). Copart had a net margin of 33.41% and a return on equity of 21.55%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the company posted $0.31 earnings per share. The company’s revenue was up 6.6% compared to the same quarter last year. Analysts predict that Copart, Inc. will post 1.42 earnings per share for the current fiscal year.

Copart Company Profile

(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.

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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