Sovran Advisors LLC Buys 10,798 Shares of Copart, Inc. (NASDAQ:CPRT)

Sovran Advisors LLC lifted its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 78.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,555 shares of the business services provider's stock after buying an additional 10,798 shares during the period. Sovran Advisors LLC's holdings in Copart were worth $1,465,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Sandy Spring Bank raised its position in shares of 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. Sunbelt Securities Inc. acquired a new stake in Copart during the 4th quarter valued at approximately $31,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in Copart during the 4th quarter worth approximately $45,000. Versant Capital Management Inc lifted its position in shares of Copart by 1,567.9% in the 1st quarter. Versant Capital Management Inc now owns 884 shares of the business services provider's stock worth $50,000 after purchasing an additional 831 shares during the period. Finally, Curio Wealth LLC bought a new stake in shares of Copart in the 4th quarter valued at $52,000. 85.78% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CPRT has been the subject of several recent analyst reports. Argus cut Copart from a "buy" rating to a "hold" rating in a research note on Friday, March 14th. JPMorgan Chase & Co. reduced their price objective 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.

Copart Price Performance

Shares of CPRT stock traded up $0.89 on Monday, hitting $49.07. The stock had a trading volume of 7,674,304 shares, compared to its average volume of 4,855,811. The business has a 50 day moving average of $55.42 and a 200 day moving average of $56.43. Copart, Inc. has a 12-month low of $47.33 and a 12-month high of $64.38. The stock has a market cap of $47.45 billion, a price-to-earnings ratio of 32.28 and a beta of 1.10.

Copart (NASDAQ:CPRT - Get Free Report) last posted 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 business had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.23 billion. Copart had a return on equity of 18.20% and a net margin of 32.21%. The business's revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.39 earnings per share. As a group, research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Activity at Copart

In other news, Director Steven D. Cohan sold 94,997 shares of the company's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $60.01, for a total transaction of $5,700,769.97. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.68% of the stock is owned by insiders.

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.