Sovereign s Capital Management LLC Acquires Shares of 8,044 Copart, Inc. (NASDAQ:CPRT)

Sovereign s Capital Management LLC bought a new position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,044 shares of the business services provider's stock, valued at approximately $462,000.

A number of other institutional investors and hedge funds have also modified their holdings of CPRT. Sandy Spring Bank boosted its position in Copart by 59.5% during 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 during the last quarter. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Copart during the fourth quarter worth about $45,000. Curio Wealth LLC acquired a new position in Copart during the fourth quarter worth about $52,000. Itau Unibanco Holding S.A. boosted its position in Copart by 340.4% during the fourth quarter. Itau Unibanco Holding S.A. now owns 916 shares of the business services provider's stock worth $53,000 after acquiring an additional 708 shares during the last quarter. Finally, R Squared Ltd acquired a new position in Copart during the fourth quarter worth about $73,000. Hedge funds and other institutional investors own 85.78% of the company's stock.

Insider Buying and Selling at Copart

In related news, Director James E. Meeks sold 100,000 shares of the company's stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven D. Cohan sold 5,003 shares of the company's stock in a transaction that occurred on Friday, April 11th. The stock was sold at an average price of $60.01, for a total transaction of $300,230.03. The disclosure for this sale can be found here. Insiders have sold 200,000 shares of company stock worth $11,401,000 in the last ninety days. 9.68% of the stock is owned by insiders.

Copart Stock Down 0.7%

NASDAQ:CPRT traded down $0.43 on Thursday, hitting $60.66. The stock had a trading volume of 6,508,552 shares, compared to its average volume of 4,441,647. The stock has a market cap of $58.60 billion, a price-to-earnings ratio of 40.71 and a beta of 1.20. The company has a fifty day moving average price of $58.75 and a two-hundred day moving average price of $58.18. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last posted its earnings results 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 32.27% and a return on equity of 19.31%. The firm's revenue for the quarter was up 7.5% on a year-over-year basis. During the same period last year, the business posted $0.39 EPS. As a group, analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.