Parkside Financial Bank & Trust Trims Stock Position in Copart, Inc. (NASDAQ:CPRT)

Parkside Financial Bank & Trust cut its holdings in Copart, Inc. (NASDAQ:CPRT) by 25.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,636 shares of the business services provider’s stock after selling 916 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Copart were worth $129,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. OFI Invest Asset Management purchased a new stake in shares of Copart in the 3rd quarter worth about $25,000. Manchester Capital Management LLC grew its position in shares of Copart by 101.0% in the 3rd quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider’s stock worth $27,000 after buying an additional 314 shares during the period. Bell Investment Advisors Inc grew its position in shares of Copart by 87.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider’s stock worth $30,000 after buying an additional 323 shares during the period. Annapolis Financial Services LLC grew its position in shares of Copart by 100.0% in the 3rd quarter. Annapolis Financial Services LLC now owns 720 shares of the business services provider’s stock worth $31,000 after buying an additional 360 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Copart by 100.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 800 shares of the business services provider’s stock worth $34,000 after buying an additional 400 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CPRT. JPMorgan Chase & Co. upped their price target on shares of Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. StockNews.com cut shares of Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Copart has a consensus rating of “Hold” and an average price target of $51.00.

Insider Transactions at Copart

In other news, Chairman A Jayson Adair sold 600,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value of $34,662,000.00. Following the transaction, the chairman now owns 19,687,980 shares in the company, valued at approximately $1,137,374,604.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman A Jayson Adair sold 600,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value of $34,662,000.00. Following the transaction, the chairman now owns 19,687,980 shares in the company, valued at approximately $1,137,374,604.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matt Blunt sold 100,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $51.06, for a total transaction of $5,106,000.00. The disclosure for this sale can be found here. Insiders have sold 985,000 shares of company stock worth $55,519,950 in the last quarter. Company insiders own 10.23% of the company’s stock.

Copart Stock Up 1.1 %

Shares of NASDAQ:CPRT opened at $54.93 on Thursday. The firm’s 50 day moving average price is $54.62 and its 200-day moving average price is $50.31. Copart, Inc. has a twelve month low of $38.35 and a twelve month high of $58.58. The stock has a market capitalization of $52.82 billion, a PE ratio of 39.52 and a beta of 1.22.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.02). Copart had a return on equity of 21.55% and a net margin of 33.41%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the company earned $0.31 EPS. Copart’s revenue for the quarter was up 6.6% on a year-over-year basis. Analysts expect that Copart, Inc. will post 1.42 earnings per share for the current fiscal year.

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.