Central Pacific Bank Trust Division Acquires 10,702 Shares of Copart, Inc. (NASDAQ:CPRT)

Central Pacific Bank Trust Division raised its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 60.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,438 shares of the business services provider's stock after buying an additional 10,702 shares during the period. Central Pacific Bank Trust Division's holdings in Copart were worth $1,609,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Mn Services Vermogensbeheer B.V. increased its position in shares of Copart by 2.5% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 339,680 shares of the business services provider's stock worth $19,494,000 after purchasing an additional 8,300 shares in the last quarter. National Pension Service increased its position in shares of Copart by 3.2% during the fourth quarter. National Pension Service now owns 1,558,067 shares of the business services provider's stock worth $89,417,000 after purchasing an additional 48,334 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Copart by 289.6% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 34,322 shares of the business services provider's stock worth $1,970,000 after purchasing an additional 25,512 shares in the last quarter. Tsai Capital Corp increased its position in Copart by 13.3% in the 4th quarter. Tsai Capital Corp now owns 61,689 shares of the business services provider's stock valued at $3,540,000 after acquiring an additional 7,230 shares during the period. Finally, Voleon Capital Management LP acquired a new position in Copart in the 4th quarter valued at about $1,314,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Price Performance

NASDAQ CPRT traded up $0.05 during trading hours on Tuesday, hitting $50.85. The company had a trading volume of 1,988,534 shares, compared to its average volume of 4,629,879. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38. The company has a market capitalization of $49.13 billion, a price-to-earnings ratio of 34.13 and a beta of 1.10. The firm's 50 day moving average is $58.60 and its 200 day moving average is $58.06.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.23 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. Copart's quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.39 earnings per share. On average, equities analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Insider Activity

In related news, Director Steven D. Cohan sold 94,997 shares of the firm's stock in a transaction 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 document filed with the SEC, which can be accessed through this hyperlink. Also, Director James E. Meeks sold 100,000 shares of Copart stock in a transaction dated 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 a total of 200,000 shares of company stock worth $11,401,000 in the last ninety days. Corporate insiders own 9.68% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on CPRT shares. Argus downgraded Copart from a "buy" rating to a "hold" rating in a report on Friday, March 14th. JPMorgan Chase & Co. dropped their price objective on Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a report on Friday, May 23rd.

Copart 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.