Fayez Sarofim & Co Takes $9.10 Million Position in Copart, Inc. (NASDAQ:CPRT)

Fayez Sarofim & Co purchased a new stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 158,575 shares of the business services provider's stock, valued at approximately $9,101,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CPRT. Sandy Spring Bank raised its position in shares of Copart by 59.5% in the fourth 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 period. Curio Wealth LLC purchased a new stake in shares of Copart during the fourth quarter worth $52,000. Retirement Wealth Solutions LLC bought a new position in shares of Copart in the fourth quarter worth $54,000. Eastern Bank grew its position in shares of Copart by 115.1% in the fourth quarter. Eastern Bank now owns 1,196 shares of the business services provider's stock valued at $69,000 after purchasing an additional 640 shares in the last quarter. Finally, R Squared Ltd bought a new stake in shares of Copart during the 4th quarter valued at $73,000. Institutional investors own 85.78% of the company's stock.

Copart Stock Performance

Copart stock traded down $1.07 during midday trading on Friday, hitting $60.90. 4,381,054 shares of the company's stock were exchanged, compared to its average volume of 4,414,111. The stock has a 50-day moving average price of $56.34 and a two-hundred day moving average price of $57.13. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The company has a market cap of $58.84 billion, a P/E ratio of 40.87 and a beta of 1.22.

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

Analyst Upgrades and Downgrades

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

Insider Transactions at Copart

In related news, Director Steven D. Cohan sold 94,997 shares of the business's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $60.01, for a total value of $5,700,769.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction 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 in the last quarter. Insiders own 9.68% of the company's stock.

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.