Harbour Trust & Investment Management Co Acquires Shares of 46,025 Copart, Inc. (NASDAQ:CPRT)

Harbour Trust & Investment Management Co bought a new stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 46,025 shares of the business services provider's stock, valued at approximately $2,605,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Sandy Spring Bank boosted its holdings in Copart by 59.5% in the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock worth $27,000 after acquiring an additional 176 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in shares of Copart in the 4th quarter worth about $31,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in Copart in the 4th quarter worth about $45,000. Versant Capital Management Inc grew its position in Copart by 1,567.9% during the 1st quarter. Versant Capital Management Inc now owns 884 shares of the business services provider's stock valued at $50,000 after purchasing an additional 831 shares during the last quarter. Finally, Curio Wealth LLC bought a new stake in Copart during the 4th quarter valued at about $52,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Steven D. Cohan sold 94,997 shares of the firm's stock in a transaction 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 SEC, which can be accessed through the SEC website. Corporate insiders own 9.68% of the company's stock.

Copart Price Performance

NASDAQ CPRT traded up $0.21 during trading hours on Friday, hitting $49.29. The company's stock had a trading volume of 3,329,409 shares, compared to its average volume of 4,873,870. Copart, Inc. has a 12 month low of $47.33 and a 12 month high of $64.38. The company's 50 day simple moving average is $54.51 and its two-hundred day simple moving average is $56.17. The company has a market cap of $47.66 billion, a P/E ratio of 32.42 and a beta of 1.07.

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, meeting the consensus estimate of $0.42. Copart had a net margin of 32.21% and a return on equity of 18.20%. The firm had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same period in the previous year, the company earned $0.39 earnings per share. The firm's quarterly revenue was up 7.5% on a year-over-year basis. As a group, research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CPRT has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their target price 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. Argus lowered shares of Copart from a "buy" rating to a "hold" rating in a 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.