Contravisory Investment Management Inc. Sells 3,687 Shares of Copart, Inc. (NASDAQ:CPRT)

Contravisory Investment Management Inc. decreased its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 2.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 138,056 shares of the business services provider’s stock after selling 3,687 shares during the quarter. Copart comprises about 1.6% of Contravisory Investment Management Inc.’s portfolio, making the stock its 28th biggest holding. Contravisory Investment Management Inc.’s holdings in Copart were worth $7,813,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. HighPoint Advisor Group LLC boosted its stake in shares of Copart by 1.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 9,747 shares of the business services provider’s stock valued at $577,000 after purchasing an additional 175 shares in the last quarter. Sandy Spring Bank lifted its stake in Copart by 59.5% in the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 176 shares during the last quarter. Lindbrook Capital LLC boosted its position in Copart by 3.2% in the fourth quarter. Lindbrook Capital LLC now owns 6,007 shares of the business services provider’s stock valued at $345,000 after buying an additional 184 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Copart by 0.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 75,170 shares of the business services provider’s stock worth $4,314,000 after buying an additional 200 shares during the last quarter. Finally, Simmons Bank increased its holdings in shares of Copart by 4.4% during the fourth quarter. Simmons Bank now owns 4,728 shares of the business services provider’s stock worth $271,000 after buying an additional 200 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CPRT shares. JPMorgan Chase & Co. dropped their price target on Copart from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, May 23rd. Argus downgraded Copart from a “buy” rating to a “hold” rating in a research report on Friday, March 14th.

Insider Buying and Selling

In related news, Director Steven D. Cohan sold 94,997 shares of the company’s stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $60.01, for a total transaction of $5,700,769.97. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James E. Meeks sold 100,000 shares of the firm’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 transaction of $5,400,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 200,000 shares of company stock worth $11,401,000. Insiders own 9.68% of the company’s stock.

Copart Price Performance

Shares of Copart stock opened at $51.01 on Wednesday. The stock’s 50-day moving average is $58.51 and its 200 day moving average is $58.02. Copart, Inc. has a one year low of $48.05 and a one year high of $64.38. The firm has a market cap of $49.28 billion, a price-to-earnings ratio of 34.23 and a beta of 1.10.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. Copart had a return on equity of 19.31% and a net margin of 32.27%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the business earned $0.39 EPS. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, sell-side analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal 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.