Sit Investment Associates Inc. Sells 1,650 Shares of Copart, Inc. (NASDAQ:CPRT)

Sit Investment Associates Inc. trimmed its position in Copart, Inc. (NASDAQ:CPRT) by 2.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 67,723 shares of the business services provider’s stock after selling 1,650 shares during the period. Sit Investment Associates Inc.’s holdings in Copart were worth $3,887,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in shares of Copart by 2.5% during 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 last quarter. HighTower Advisors LLC grew its stake in shares of Copart by 9.6% during the third quarter. HighTower Advisors LLC now owns 231,377 shares of the business services provider’s stock worth $12,109,000 after purchasing an additional 20,333 shares during the period. Janus Henderson Group PLC increased its holdings in Copart by 7.7% in the third quarter. Janus Henderson Group PLC now owns 96,566 shares of the business services provider’s stock valued at $5,060,000 after purchasing an additional 6,900 shares during the last quarter. IHT Wealth Management LLC lifted its stake in Copart by 67.4% in the third quarter. IHT Wealth Management LLC now owns 8,600 shares of the business services provider’s stock valued at $451,000 after buying an additional 3,462 shares during the period. Finally, Quarry LP bought a new position in Copart during the third quarter worth about $29,000. 85.78% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Copart news, Director James E. Meeks sold 100,000 shares of Copart stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total value of $5,400,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.68% of the stock is owned by company insiders.

Copart Stock Down 3.8 %

Shares of CPRT stock opened at $54.51 on Monday. The firm has a market capitalization of $52.66 billion, a price-to-earnings ratio of 36.58 and a beta of 1.22. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38. The firm has a fifty day moving average of $56.23 and a 200-day moving average of $56.45.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. Research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Argus downgraded shares of Copart from a “buy” rating to a “hold” rating in a research report on Friday, March 14th.

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.