Fortis Capital Management LLC Purchases 17,633 Shares of Copart, Inc. (NASDAQ:CPRT)

Fortis Capital Management LLC grew its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 29.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,853 shares of the business services provider's stock after purchasing an additional 17,633 shares during the period. Fortis Capital Management LLC's holdings in Copart were worth $4,411,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Principal Financial Group Inc. grew its position in Copart by 2.5% in the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider's stock worth $2,037,130,000 after purchasing an additional 941,858 shares during the period. State Street Corp boosted its stake in shares of Copart by 0.4% in the 3rd quarter. State Street Corp now owns 34,157,967 shares of the business services provider's stock worth $1,789,877,000 after buying an additional 120,939 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Copart by 23.3% in the fourth quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider's stock worth $1,115,664,000 after acquiring an additional 3,667,534 shares during the period. Geode Capital Management LLC increased its position in Copart by 1.6% during the third quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider's stock valued at $979,547,000 after acquiring an additional 291,580 shares during the last quarter. Finally, Amundi lifted its holdings in Copart by 18.2% in the fourth quarter. Amundi now owns 7,080,834 shares of the business services provider's stock valued at $402,332,000 after acquiring an additional 1,090,841 shares during the period. Hedge funds and other institutional investors own 85.78% of the company's stock.

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Insider Buying and Selling at Copart

In related news, Director Matt Blunt sold 50,000 shares of Copart 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director James E. Meeks sold 100,000 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total value of $5,400,000.00. The disclosure for this sale can be found here. Insiders have sold 385,480 shares of company stock valued at $21,667,683 over the last 90 days. 9.68% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Copart Trading Up 1.0 %

Copart stock traded up $0.57 during trading on Thursday, reaching $55.64. The company had a trading volume of 4,858,945 shares, compared to its average volume of 4,015,786. The firm has a market capitalization of $53.75 billion, a price-to-earnings ratio of 37.34 and a beta of 1.30. The firm's 50-day simple moving average is $56.38 and its 200 day simple moving average is $56.10. Copart, Inc. has a 52 week low of $48.05 and a 52 week 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 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%. On average, analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

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.