Renasant Bank Sells 1,349 Shares of Copart, Inc. $CPRT

Renasant Bank cut its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 11.0% during the second quarter, HoldingsChannel.com reports. The firm owned 10,930 shares of the business services provider’s stock after selling 1,349 shares during the quarter. Renasant Bank’s holdings in Copart were worth $536,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Brighton Jones LLC lifted its holdings in Copart by 92.1% in the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock valued at $816,000 after buying an additional 6,817 shares during the period. Stephens Inc. AR raised its position in shares of Copart by 7.8% during the 1st quarter. Stephens Inc. AR now owns 30,094 shares of the business services provider’s stock valued at $1,703,000 after acquiring an additional 2,179 shares during the last quarter. CWM LLC lifted its stake in shares of Copart by 3.8% in the 1st quarter. CWM LLC now owns 37,196 shares of the business services provider’s stock valued at $2,105,000 after purchasing an additional 1,369 shares during the period. Bleakley Financial Group LLC boosted its position in shares of Copart by 8.6% in the 1st quarter. Bleakley Financial Group LLC now owns 17,983 shares of the business services provider’s stock worth $1,018,000 after purchasing an additional 1,424 shares during the last quarter. Finally, Signaturefd LLC boosted its position in shares of Copart by 4.6% in the 1st quarter. Signaturefd LLC now owns 18,343 shares of the business services provider’s stock worth $1,038,000 after purchasing an additional 813 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Buying and Selling

In other news, CEO Jeffrey Liaw sold 24,283 shares of the stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the completion of the transaction, the chief executive officer directly owned 31,332 shares in the company, valued at $1,403,360.28. This represents a 43.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Thomas N. Tryforos sold 228,840 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $47.54, for a total value of $10,879,053.60. The disclosure for this sale is available in the SEC filing. 9.60% of the stock is owned by company insiders.

Copart Stock Performance

NASDAQ CPRT opened at $41.34 on Wednesday. The stock has a market cap of $40.01 billion, a price-to-earnings ratio of 25.84 and a beta of 1.06. The business has a 50 day simple moving average of $44.94 and a 200 day simple moving average of $48.88. Copart, Inc. has a 52-week low of $39.58 and a 52-week high of $64.38.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.37 by $0.04. Copart had a net margin of 33.41% and a return on equity of 18.17%. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the firm posted $0.33 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year. On average, analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on CPRT shares. Robert W. Baird dropped their price objective on Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, July 17th. HSBC set a $62.00 target price on Copart and gave the stock a “buy” rating in a research report on Thursday, September 4th. Hsbc Global Res upgraded shares of Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. Finally, Barclays set a $32.00 price objective on shares of Copart in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $50.00.

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.