Fayez Sarofim & Co Invests $9.10 Million in Copart, Inc. (NASDAQ:CPRT)

Fayez Sarofim & Co purchased a new position in Copart, Inc. (NASDAQ:CPRT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 158,575 shares of the business services provider's stock, valued at approximately $9,101,000.

A number of other hedge funds have also bought and sold shares of the company. J. Safra Sarasin Holding AG grew its position in Copart by 4.9% in the 4th quarter. J. Safra Sarasin Holding AG now owns 19,648 shares of the business services provider's stock worth $1,128,000 after purchasing an additional 925 shares during the last quarter. State of Tennessee Department of Treasury lifted its position in shares of Copart by 24.1% during the 4th quarter. State of Tennessee Department of Treasury now owns 386,147 shares of the business services provider's stock valued at $22,161,000 after acquiring an additional 74,874 shares during the last quarter. TD Waterhouse Canada Inc. raised its holdings in Copart by 54.7% during the 4th quarter. TD Waterhouse Canada Inc. now owns 4,541 shares of the business services provider's stock worth $261,000 after buying an additional 1,606 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Copart by 120.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 80,939 shares of the business services provider's stock valued at $4,645,000 after acquiring an additional 44,209 shares in the last quarter. Finally, Mirabella Financial Services LLP purchased a new position in shares of Copart during the fourth quarter valued at $2,100,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Trading Up 0.4 %

CPRT stock opened at $59.68 on Monday. The firm has a market cap of $57.66 billion, a P/E ratio of 40.05 and a beta of 1.22. The business's 50 day moving average is $56.22 and its 200-day moving average is $56.93. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38.

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

Wall Street Analysts Forecast Growth

Separately, Argus lowered Copart from a "buy" rating to a "hold" rating in a research report on Friday, March 14th.

Insider Buying and Selling at Copart

In related news, Director Steven D. Cohan sold 5,003 shares of the firm's stock in a transaction on Friday, April 11th. The shares were sold at an average price of $60.01, for a total value of $300,230.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director James E. Meeks sold 100,000 shares of the company's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total transaction of $5,400,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 200,000 shares of company stock valued at $11,401,000. Company 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.

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