Logan Capital Management Inc. Reduces Holdings in Copart, Inc. (NASDAQ:CPRT)

Logan Capital Management Inc. cut its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 319,058 shares of the business services provider's stock after selling 10,459 shares during the quarter. Logan Capital Management Inc.'s holdings in Copart were worth $18,311,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Janus Henderson Group PLC boosted its holdings in shares of Copart by 0.9% in the 4th quarter. Janus Henderson Group PLC now owns 97,475 shares of the business services provider's stock valued at $5,595,000 after buying an additional 909 shares in the last quarter. Guardian Wealth Advisors LLC NC boosted its stake in Copart by 13.1% in the fourth quarter. Guardian Wealth Advisors LLC NC now owns 46,602 shares of the business services provider's stock valued at $2,674,000 after acquiring an additional 5,384 shares in the last quarter. Geller Advisors LLC purchased a new position in Copart in the fourth quarter worth $288,000. Focus Partners Wealth grew its holdings in Copart by 1.3% in the fourth quarter. Focus Partners Wealth now owns 87,840 shares of the business services provider's stock worth $5,041,000 after purchasing an additional 1,170 shares during the last quarter. Finally, Fiduciary Trust Co purchased a new stake in shares of Copart during the 4th quarter valued at $211,000. Hedge funds and other institutional investors own 85.78% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Argus cut Copart from a "buy" rating to a "hold" rating in a research note on Friday, March 14th.

Insiders Place Their Bets

In other Copart news, Director Steven D. Cohan sold 5,003 shares of the firm'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 value of $300,230.03. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James E. Meeks sold 100,000 shares of Copart stock in a transaction 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 200,000 shares of company stock worth $11,401,000. Company insiders own 9.68% of the company's stock.

Copart Price Performance

Copart stock traded up $0.55 during trading hours on Thursday, hitting $62.97. 4,601,456 shares of the stock traded hands, compared to its average volume of 4,411,837. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The stock has a market capitalization of $60.83 billion, a price-to-earnings ratio of 42.26 and a beta of 1.20. The firm's 50 day moving average price is $57.77 and its 200-day moving average price is $57.81.

Copart (NASDAQ:CPRT - Get Free Report) last posted its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.02. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. Research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

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.