Argent Trust Co Purchases 2,295 Shares of Copart, Inc. (NASDAQ:CPRT)

Argent Trust Co lifted its position in shares of Copart, Inc. (NASDAQ:CPRT) by 10.9% in the 1st quarter, Holdings Channel.com reports. The fund owned 23,354 shares of the business services provider’s stock after buying an additional 2,295 shares during the quarter. Argent Trust Co’s holdings in Copart were worth $1,322,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new stake in Copart in the 1st quarter worth approximately $26,000. Sunbelt Securities Inc. purchased a new position in shares of Copart during the 4th quarter worth $31,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Copart during the 4th quarter worth $45,000. Cornerstone Planning Group LLC boosted its stake in shares of Copart by 51.3% during the 1st quarter. Cornerstone Planning Group LLC now owns 829 shares of the business services provider’s stock worth $51,000 after acquiring an additional 281 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of Copart by 1,567.9% during the 1st quarter. Versant Capital Management Inc now owns 884 shares of the business services provider’s stock worth $50,000 after acquiring an additional 831 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of the business’s stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total value of $1,118,405.84. Following the sale, the chief executive officer owned 31,527 shares in the company, valued at $1,463,798.61. The trade was a 43.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.68% of the stock is currently owned by insiders.

Copart Stock Performance

CPRT opened at $45.74 on Tuesday. Copart, Inc. has a fifty-two week low of $45.05 and a fifty-two week high of $64.38. The firm’s fifty day moving average is $48.31 and its 200 day moving average is $54.50. The stock has a market cap of $44.23 billion, a price-to-earnings ratio of 30.09 and a beta of 1.04.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. Copart had a net margin of 32.21% and a return on equity of 18.20%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the company earned $0.39 EPS. Copart’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, equities research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CPRT. JPMorgan Chase & Co. dropped their price target on shares of Copart from $60.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. Stephens assumed coverage on shares of Copart in a research note on Tuesday, July 8th. They set an “equal weight” rating and a $50.00 target price on the stock. Finally, Robert W. Baird lowered their target price on shares of Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, July 17th.

About Copart

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.