11,220 Shares in Copart, Inc. (NASDAQ:CPRT) Acquired by Tounjian Advisory Partners LLC

Tounjian Advisory Partners LLC bought a new stake in Copart, Inc. (NASDAQ:CPRT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,220 shares of the business services provider's stock, valued at approximately $635,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CPRT. HighPoint Advisor Group LLC increased its position in shares of Copart by 1.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 9,747 shares of the business services provider's stock worth $577,000 after purchasing an additional 175 shares during the period. Sandy Spring Bank grew its position in Copart by 59.5% in the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock valued at $27,000 after acquiring an additional 176 shares during the last quarter. Lindbrook Capital LLC grew its position in Copart by 3.2% in the fourth quarter. Lindbrook Capital LLC now owns 6,007 shares of the business services provider's stock valued at $345,000 after acquiring an additional 184 shares during the last quarter. Nixon Peabody Trust Co. grew its position in Copart by 5.0% in the first quarter. Nixon Peabody Trust Co. now owns 4,108 shares of the business services provider's stock valued at $232,000 after acquiring an additional 195 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its position in Copart by 0.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 75,170 shares of the business services provider's stock valued at $4,314,000 after acquiring an additional 200 shares during the last quarter. 85.78% of the stock is owned by institutional investors.

Copart Trading Down 2.8%

Copart stock traded down $1.40 during midday trading on Friday, reaching $48.59. The company's stock had a trading volume of 8,554,170 shares, compared to its average volume of 4,755,459. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38. The business has a 50-day moving average price of $57.58 and a 200-day moving average price of $57.51. The stock has a market cap of $46.98 billion, a PE ratio of 32.61 and a beta of 1.10.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly earnings results 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 company had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.23 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. The business's quarterly revenue was up 7.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.39 earnings per share. As a group, research analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CPRT shares. JPMorgan Chase & Co. decreased their target price on Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Argus cut Copart from a "buy" rating to a "hold" rating in a research report on Friday, March 14th.

Insider Transactions at Copart

In other news, Director Steven D. Cohan sold 5,003 shares of the business's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $60.01, for a total transaction of $300,230.03. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James E. Meeks sold 100,000 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total value of $5,400,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 200,000 shares of company stock worth $11,401,000. Insiders own 9.68% of the company's stock.

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.