57,979 Shares in Copart, Inc. (NASDAQ:CPRT) Bought by Putney Financial Group LLC

Putney Financial Group LLC purchased a new position in Copart, Inc. (NASDAQ:CPRT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 57,979 shares of the business services provider's stock, valued at approximately $3,327,000. Copart makes up 2.3% of Putney Financial Group LLC's investment portfolio, making the stock its 6th largest holding.

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

Copart Trading Down 0.9%

Copart stock traded down $0.48 during midday trading on Friday, hitting $50.94. The stock had a trading volume of 4,367,882 shares, compared to its average volume of 4,592,506. The firm's fifty day moving average is $58.77 and its two-hundred day moving average is $58.14. The company has a market capitalization of $49.22 billion, a PE ratio of 34.20 and a beta of 1.20. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last released its earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. The company had revenue of $1.21 billion during 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%. The firm's quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.39 EPS. As a group, equities research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CPRT shares. JPMorgan Chase & Co. reduced their price target on shares of Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Argus lowered shares of Copart from a "buy" rating to a "hold" rating in a research report on Friday, March 14th.

Insider Buying and Selling at Copart

In other news, Director James E. Meeks sold 100,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total transaction of $5,400,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven D. Cohan sold 5,003 shares of the stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $60.01, for a total value of $300,230.03. The disclosure for this sale can be found here. Insiders sold a total of 200,000 shares of company stock valued at $11,401,000 in the last three months. 9.68% of the stock is currently owned by corporate insiders.

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.