Fulton Bank N.A. Cuts Stock Position in Copart, Inc. (NASDAQ:CPRT)

Fulton Bank N.A. trimmed its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 0.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 40,219 shares of the business services provider’s stock after selling 235 shares during the quarter. Fulton Bank N.A.’s holdings in Copart were worth $2,308,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cadence Bank raised its stake in Copart by 0.6% in the 3rd quarter. Cadence Bank now owns 31,549 shares of the business services provider’s stock valued at $1,653,000 after purchasing an additional 178 shares during the last quarter. Duncan Williams Asset Management LLC raised its position in shares of Copart by 1.3% in the third quarter. Duncan Williams Asset Management LLC now owns 15,437 shares of the business services provider’s stock valued at $809,000 after buying an additional 203 shares during the last quarter. Covestor Ltd boosted its position in Copart by 5.1% during the third quarter. Covestor Ltd now owns 4,299 shares of the business services provider’s stock worth $225,000 after acquiring an additional 209 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its stake in Copart by 0.8% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 27,631 shares of the business services provider’s stock valued at $1,447,000 after acquiring an additional 213 shares in the last quarter. Finally, Private Advisor Group LLC raised its holdings in Copart by 0.9% in the 3rd quarter. Private Advisor Group LLC now owns 26,011 shares of the business services provider’s stock valued at $1,363,000 after acquiring an additional 230 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. boosted their target price on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th.

Copart Trading Up 1.0 %

Shares of CPRT stock opened at $56.78 on Thursday. Copart, Inc. has a twelve month low of $46.82 and a twelve month high of $64.38. The stock has a market cap of $54.71 billion, a price-to-earnings ratio of 39.99 and a beta of 1.33. The company’s 50-day moving average price is $58.71 and its 200-day moving average price is $54.63.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, meeting the consensus estimate of $0.37. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.34 EPS. As a group, equities research analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Insiders Place Their Bets

In other news, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $56.84, for a total value of $13,384,683.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the completion of the sale, the chairman now owns 14,436,557 shares of the company’s stock, valued at $920,907,971.03. This trade represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 650,213 shares of company stock valued at $39,199,813 over the last quarter. 9.68% of the stock is owned by insiders.

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.