Wedgewood Partners Inc. Sells 21,506 Shares of Copart, Inc. (NASDAQ:CPRT)

Wedgewood Partners Inc. trimmed its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 4.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 488,433 shares of the business services provider's stock after selling 21,506 shares during the period. Copart comprises approximately 5.5% of Wedgewood Partners Inc.'s holdings, making the stock its 8th biggest holding. Wedgewood Partners Inc. owned 0.05% of Copart worth $28,031,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Sandy Spring Bank grew its stake in Copart by 59.5% in the 4th 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 period. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Copart in the 4th quarter worth approximately $45,000. Curio Wealth LLC purchased a new stake in Copart in the 4th quarter worth approximately $52,000. Itau Unibanco Holding S.A. lifted its holdings in shares of Copart by 340.4% during the 4th 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 period. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Copart in the fourth quarter worth approximately $73,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

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.

Insider Buying and Selling at Copart

In other Copart news, Director Steven D. Cohan sold 5,003 shares of the stock in a transaction on Friday, April 11th. The shares were sold at an average price of $60.01, for a total transaction of $300,230.03. The sale 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 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 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 Trading Down 0.7%

NASDAQ:CPRT traded down $0.43 on Thursday, hitting $60.66. 6,508,552 shares of the stock were exchanged, compared to its average volume of 4,441,647. The stock has a fifty day moving average of $58.75 and a 200-day moving average of $58.18. The stock has a market cap of $58.60 billion, a PE ratio of 40.71 and a beta of 1.20. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38.

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

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.