PNC Financial Services Group Inc. Trims Stake in Copart, Inc. (NASDAQ:CPRT)

PNC Financial Services Group Inc. lowered its holdings in Copart, Inc. (NASDAQ:CPRT) by 1.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 238,699 shares of the business services provider’s stock after selling 4,006 shares during the period. PNC Financial Services Group Inc.’s holdings in Copart were worth $13,699,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of CPRT. Cadence Bank raised its position in Copart by 0.6% during the third quarter. Cadence Bank now owns 31,549 shares of the business services provider’s stock valued at $1,653,000 after purchasing an additional 178 shares in the last quarter. Lindbrook Capital LLC raised its holdings in shares of Copart by 3.2% during the 4th quarter. Lindbrook Capital LLC now owns 6,007 shares of the business services provider’s stock valued at $345,000 after buying an additional 184 shares in the last quarter. Everpar Advisors LLC raised its holdings in shares of Copart by 4.3% during the 4th quarter. Everpar Advisors LLC now owns 4,811 shares of the business services provider’s stock valued at $276,000 after buying an additional 199 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Copart by 0.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 75,170 shares of the business services provider’s stock worth $4,314,000 after buying an additional 200 shares in the last quarter. Finally, Simmons Bank grew its position in Copart by 4.4% during the fourth quarter. Simmons Bank now owns 4,728 shares of the business services provider’s stock valued at $271,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Copart Trading Up 0.2 %

Shares of NASDAQ:CPRT opened at $52.91 on Wednesday. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38. The stock’s 50-day moving average price is $56.96 and its 200-day moving average price is $56.01. The stock has a market capitalization of $51.12 billion, a P/E ratio of 35.51 and a beta of 1.30.

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

Wall Street Analyst Weigh In

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

Insider Transactions at Copart

In other news, Director Diane M. Morefield sold 30,000 shares of Copart 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 315,480 shares of company stock worth $18,007,983. Insiders own 9.68% of the company’s stock.

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.