Copart, Inc. (NASDAQ:CPRT) Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC cut its holdings in Copart, Inc. (NASDAQ:CPRT) by 5.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,941 shares of the business services provider’s stock after selling 2,000 shares during the period. Welch & Forbes LLC’s holdings in Copart were worth $1,977,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Cloud Capital Management LLC acquired a new stake in shares of Copart during the 1st quarter worth about $26,000. Sandy Spring Bank raised its holdings in 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 purchasing an additional 176 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in Copart during the fourth quarter worth approximately $31,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Copart during the 4th quarter worth approximately $45,000. Finally, Versant Capital Management Inc boosted its holdings 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 valued at $50,000 after buying an additional 831 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of Copart stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total value of $1,118,405.84. Following the transaction, the chief executive officer directly owned 31,527 shares in the company, valued at approximately $1,463,798.61. This trade represents a 43.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.68% of the stock is currently owned by corporate insiders.

Copart Trading Up 0.2%

Shares of CPRT opened at $45.98 on Thursday. The company’s 50 day simple moving average is $52.15 and its 200-day simple moving average is $55.47. The firm has a market cap of $44.46 billion, a PE ratio of 30.25 and a beta of 1.07. Copart, Inc. has a 12-month low of $45.52 and a 12-month high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. Copart had a net margin of 32.21% and a return on equity of 18.20%. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the prior year, the business earned $0.39 EPS. Copart’s quarterly revenue was up 7.5% compared to the same quarter last year. As a group, equities research analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Stephens initiated coverage on shares of Copart in a research report on Tuesday, July 8th. They issued an “equal weight” rating and a $50.00 price target for the company. JPMorgan Chase & Co. cut 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.

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.