Waverly Advisors LLC Takes $493,000 Position in Copart, Inc. (NASDAQ:CPRT)

Waverly Advisors LLC purchased a new position in Copart, Inc. (NASDAQ:CPRT - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 8,593 shares of the business services provider's stock, valued at approximately $493,000.

A number of other institutional investors have also made changes to their positions in the stock. Mn Services Vermogensbeheer B.V. boosted 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 worth $19,494,000 after acquiring an additional 8,300 shares during the last quarter. National Pension Service raised its holdings in Copart by 3.2% in the fourth quarter. National Pension Service now owns 1,558,067 shares of the business services provider's stock worth $89,417,000 after purchasing an additional 48,334 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Copart by 289.6% in 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 buying an additional 25,512 shares during the period. Tsai Capital Corp grew its holdings in shares of Copart by 13.3% in the 4th quarter. Tsai Capital Corp now owns 61,689 shares of the business services provider's stock valued at $3,540,000 after buying an additional 7,230 shares during the period. Finally, Voleon Capital Management LP acquired a new stake in Copart during the 4th quarter worth $1,314,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Copart

In other Copart news, Director James E. Meeks sold 100,000 shares of the firm's stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven D. Cohan sold 5,003 shares of the stock in a transaction dated Friday, April 11th. The shares were 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. In the last ninety days, insiders sold 200,000 shares of company stock worth $11,401,000. Insiders own 9.68% of the company's stock.

Copart Trading Down 1.5%

Shares of Copart stock traded down $0.77 on Wednesday, reaching $52.05. 10,020,399 shares of the company were exchanged, compared to its average volume of 4,581,131. Copart, Inc. has a one year low of $48.05 and a one year high of $64.38. The company has a 50-day moving average of $58.88 and a 200 day moving average of $58.22. The company has a market capitalization of $50.29 billion, a price-to-earnings ratio of 34.93 and a beta of 1.20.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.42 EPS for the quarter, meeting analysts' consensus estimates of $0.42. The firm had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.23 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. The company's revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.39 earnings per share. Analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in 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 report on Friday, May 23rd. Argus downgraded shares of Copart from a "buy" rating to a "hold" rating in a research note 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.