Fulton Bank N.A. Cuts Stock Position in Copart, Inc. (NASDAQ:CPRT)

Fulton Bank N.A. trimmed its position in shares of Copart, Inc. (NASDAQ:CPRT) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 40,219 shares of the business services provider’s stock after selling 235 shares during the quarter. Fulton Bank N.A.’s holdings in Copart were worth $2,308,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Optimum Investment Advisors boosted its holdings in Copart by 141.5% in the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after acquiring an additional 300 shares in the last quarter. Eastern Bank purchased a new stake in Copart during the 3rd quarter worth approximately $29,000. Quarry LP acquired a new position in Copart during the 3rd quarter valued at approximately $29,000. Meeder Asset Management Inc. raised its holdings in shares of Copart by 283.3% in the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock worth $31,000 after buying an additional 425 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Copart during the third quarter worth $33,000. 85.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Transactions at Copart

In other Copart news, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction on Monday, January 6th. The shares were sold at an average price of $56.84, for a total value of $13,384,683.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman A Jayson Adair sold 251,423 shares of the stock in a transaction dated 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 directly owns 14,436,557 shares in the company, valued at approximately $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. Insiders have sold 650,213 shares of company stock worth $39,199,813 over the last quarter. 9.68% of the stock is currently owned by insiders.

Copart Trading Up 1.0 %

CPRT opened at $56.78 on Thursday. Copart, Inc. has a 12-month low of $46.82 and a 12-month high of $64.38. The firm has a 50 day moving average of $58.71 and a two-hundred day moving average of $54.63. The firm has a market capitalization of $54.71 billion, a PE ratio of 39.99 and a beta of 1.33.

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

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.