Wilbanks Smith & Thomas Asset Management LLC Lowers Holdings in Copart, Inc. (NASDAQ:CPRT)

Wilbanks Smith & Thomas Asset Management LLC lowered its position in Copart, Inc. (NASDAQ:CPRT) by 10.4% during the 4th quarter, HoldingsChannel reports. The firm owned 5,863 shares of the business services provider’s stock after selling 678 shares during the period. Wilbanks Smith & Thomas Asset Management LLC’s holdings in Copart were worth $287,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Savant Capital LLC boosted its position in shares of Copart by 3.8% during the 4th quarter. Savant Capital LLC now owns 6,933 shares of the business services provider’s stock valued at $340,000 after acquiring an additional 251 shares during the last quarter. First Citizens Bank & Trust Co. lifted its position in Copart by 3.6% during the fourth quarter. First Citizens Bank & Trust Co. now owns 7,729 shares of the business services provider’s stock valued at $379,000 after purchasing an additional 268 shares during the last quarter. BSW Wealth Partners grew its stake in Copart by 4.1% in the 4th quarter. BSW Wealth Partners now owns 6,972 shares of the business services provider’s stock worth $342,000 after buying an additional 277 shares in the last quarter. Manchester Capital Management LLC increased its holdings in shares of Copart by 101.0% in the 3rd quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider’s stock worth $27,000 after buying an additional 314 shares during the last quarter. Finally, Bell Investment Advisors Inc raised its position in shares of Copart by 87.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider’s stock valued at $30,000 after buying an additional 323 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

Shares of CPRT opened at $55.20 on Friday. Copart, Inc. has a fifty-two week low of $39.06 and a fifty-two week high of $58.58. The firm has a market cap of $53.07 billion, a price-to-earnings ratio of 39.71 and a beta of 1.22. The firm has a 50 day moving average price of $55.40 and a 200-day moving average price of $50.72.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.02). Copart had a return on equity of 21.55% and a net margin of 33.41%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the firm earned $0.31 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. As a group, equities research analysts predict that Copart, Inc. will post 1.42 earnings per share for the current year.

Insider Activity

In other news, Chairman A Jayson Adair sold 600,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value of $34,662,000.00. Following the transaction, the chairman now owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Thomas N. Tryforos sold 285,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the transaction, the director now owns 35,000 shares in the company, valued at approximately $1,934,450. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman A Jayson Adair sold 600,000 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value of $34,662,000.00. Following the transaction, the chairman now directly owns 19,687,980 shares of the company’s stock, valued at approximately $1,137,374,604.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 985,000 shares of company stock valued at $55,519,950. Insiders own 10.23% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CPRT. StockNews.com lowered shares of Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. upped their price objective on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Copart currently has a consensus rating of “Hold” and a consensus target price of $51.00.

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.