WASHINGTON TRUST Co Sells 1,724 Shares of Copart, Inc. (NASDAQ:CPRT)

WASHINGTON TRUST Co decreased its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,128 shares of the business services provider’s stock after selling 1,724 shares during the period. WASHINGTON TRUST Co’s holdings in Copart were worth $3,451,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jensen Investment Management Inc. increased its holdings in Copart by 2,466.0% during the 3rd quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock worth $185,299,000 after purchasing an additional 3,398,423 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Copart by 462.8% during the third quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock worth $192,240,000 after buying an additional 3,016,795 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Copart by 335.8% during the third quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock worth $149,471,000 after buying an additional 2,084,626 shares in the last quarter. Comgest Global Investors S.A.S. raised its position in Copart by 706.6% in the 3rd quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock valued at $83,153,000 after buying an additional 1,390,146 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Copart by 1,103.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,062,931 shares of the business services provider’s stock valued at $55,698,000 after acquiring an additional 974,585 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Copart

In related news, Chairman A Jayson Adair sold 251,423 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total value of $16,038,273.17. Following the completion of the sale, the chairman now directly owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. This trade represents a 1.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Diane M. Morefield sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total value of $1,740,300.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $1,160,200. This trade represents a 60.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 650,213 shares of company stock valued at $39,199,813. 9.68% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

Copart Price Performance

Copart stock opened at $59.39 on Friday. The company has a market cap of $57.22 billion, a price-to-earnings ratio of 41.82 and a beta of 1.33. The firm has a 50-day moving average of $58.29 and a 200-day moving average of $55.41. Copart, Inc. has a one year low of $48.05 and a one year high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, meeting the consensus estimate of $0.37. The firm 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%. The business’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.34 earnings per share. As a group, sell-side analysts expect that Copart, Inc. will post 1.57 earnings per share for the current 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.