Bryce Point Capital LLC Takes $1.32 Million Position in Copart, Inc. (NASDAQ:CPRT)

Bryce Point Capital LLC bought a new position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 22,980 shares of the business services provider's stock, valued at approximately $1,319,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Huntington National Bank raised its stake in shares of Copart by 8.4% in the fourth quarter. Huntington National Bank now owns 14,529 shares of the business services provider's stock valued at $834,000 after acquiring an additional 1,131 shares in the last quarter. Meeder Advisory Services Inc. raised its position in Copart by 6.4% in the 4th quarter. Meeder Advisory Services Inc. now owns 18,784 shares of the business services provider's stock valued at $1,078,000 after purchasing an additional 1,136 shares in the last quarter. Headlands Technologies LLC grew its position in shares of Copart by 56.9% during the fourth quarter. Headlands Technologies LLC now owns 30,591 shares of the business services provider's stock worth $1,756,000 after buying an additional 11,095 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Copart by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 19,172,603 shares of the business services provider's stock worth $1,097,153,000 after buying an additional 408,677 shares during the period. Finally, Roundview Capital LLC raised its holdings in Copart by 2.5% in the fourth quarter. Roundview Capital LLC now owns 136,199 shares of the business services provider's stock valued at $7,816,000 after acquiring an additional 3,311 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company's stock.

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Analysts Set New Price Targets

Separately, Argus cut shares of Copart from a "buy" rating to a "hold" rating in a report on Friday, March 14th.

Copart Stock Performance

NASDAQ CPRT traded down $0.95 during trading on Monday, reaching $53.56. 3,924,767 shares of the company's stock were exchanged, compared to its average volume of 4,307,594. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The stock has a market cap of $51.74 billion, a P/E ratio of 35.98 and a beta of 1.22. The company has a 50 day moving average price of $56.23 and a two-hundred day moving average price of $56.45.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly 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. Copart had a return on equity of 19.31% and a net margin of 32.27%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Research analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Activity at Copart

In other Copart news, Director James E. Meeks sold 100,000 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total transaction of $5,400,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 9.68% of the company's stock.

Copart Company 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.