Baird Financial Group Inc. Acquires 72,635 Shares of Copart, Inc. (NASDAQ:CPRT)

Baird Financial Group Inc. boosted its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 4.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,845,275 shares of the business services provider's stock after acquiring an additional 72,635 shares during the period. Baird Financial Group Inc. owned 0.19% of Copart worth $105,900,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Sandy Spring Bank boosted 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 worth $27,000 after purchasing an additional 176 shares during the period. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Copart during the fourth quarter worth $45,000. Curio Wealth LLC purchased a new position in Copart during the fourth quarter valued at $52,000. Itau Unibanco Holding S.A. increased its holdings in Copart by 340.4% in the 4th quarter. Itau Unibanco Holding S.A. now owns 916 shares of the business services provider's stock valued at $53,000 after acquiring an additional 708 shares during the last quarter. Finally, Retirement Wealth Solutions LLC purchased a new stake in Copart in the 4th quarter worth $54,000. Hedge funds and other institutional investors own 85.78% of the company's stock.

Insiders Place Their Bets

In other news, Director Steven D. Cohan sold 5,003 shares of Copart stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $60.01, for a total value of $300,230.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James E. Meeks sold 100,000 shares of the stock in a transaction on Wednesday, March 19th. The shares were 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 200,000 shares of company stock valued at $11,401,000 over the last ninety days. 9.68% of the stock is owned by insiders.

Copart Price Performance

Shares of NASDAQ CPRT traded up $0.44 during midday trading on Wednesday, reaching $61.24. 3,403,286 shares of the stock traded hands, compared to its average volume of 4,413,320. The company's 50 day moving average is $56.98 and its 200 day moving average is $57.45. Copart, Inc. has a one year low of $48.05 and a one year high of $64.38. The stock has a market capitalization of $59.16 billion, a PE ratio of 41.10 and a beta of 1.20.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.38 by $0.02. Copart had a net margin of 32.27% and a return on equity of 19.31%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. As a group, equities analysts forecast that Copart, Inc. will post 1.57 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.