Rockland Trust Co. Trims Position in Copart, Inc. (NASDAQ:CPRT)

Rockland Trust Co. lessened its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 262,561 shares of the business services provider's stock after selling 10,802 shares during the quarter. Rockland Trust Co.'s holdings in Copart were worth $15,068,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in CPRT. Optimum Investment Advisors raised its holdings in Copart by 141.5% in the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider's stock valued at $27,000 after buying an additional 300 shares during the last quarter. Eastern Bank bought a new stake in Copart during the 3rd quarter valued at $29,000. Quarry LP acquired a new stake in shares of Copart in the 3rd quarter worth about $29,000. Ashton Thomas Securities LLC bought a new position in Copart during the 3rd quarter valued at $33,000. Finally, True Wealth Design LLC boosted its stake in shares of Copart by 1,737.1% in the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider's stock worth $34,000 after buying an additional 608 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company's stock.

Insider Buying and Selling at Copart

In related news, Director Thomas N. Tryforos sold 83,310 shares of the business's stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $61.86, for a total transaction of $5,153,556.60. Following the completion of the sale, the director now directly owns 7,850 shares in the company, valued at approximately $485,601. The trade was a 91.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Matt Blunt sold 50,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total transaction of $2,883,000.00. The disclosure for this sale can be found here. Insiders sold a total of 650,213 shares of company stock worth $39,199,813 in the last three months. 9.68% of the stock is currently owned by company insiders.

Copart Stock Performance

Shares of NASDAQ CPRT traded up $0.18 during mid-day trading on Wednesday, hitting $56.40. The stock had a trading volume of 4,983,143 shares, compared to its average volume of 3,902,316. The business has a 50 day moving average price of $59.03 and a two-hundred day moving average price of $54.66. Copart, Inc. has a 1 year low of $47.31 and a 1 year high of $64.38. The firm has a market cap of $54.34 billion, a P/E ratio of 39.72 and a beta of 1.31.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. The company had revenue of $1.15 billion for 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 firm's revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 earnings per share. Equities research analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.