Bridges Investment Management Inc. Sells 6,568 Shares of Copart, Inc. (NASDAQ:CPRT)

Bridges Investment Management Inc. reduced its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 0.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 863,282 shares of the business services provider’s stock after selling 6,568 shares during the quarter. Bridges Investment Management Inc. owned about 0.09% of Copart worth $49,544,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Cadence Bank grew its stake in Copart by 0.6% during the 3rd quarter. Cadence Bank now owns 31,549 shares of the business services provider’s stock worth $1,653,000 after buying an additional 178 shares during the last quarter. Everpar Advisors LLC boosted its holdings in Copart by 4.3% in the fourth quarter. Everpar Advisors LLC now owns 4,811 shares of the business services provider’s stock worth $276,000 after acquiring an additional 199 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Copart by 0.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 75,170 shares of the business services provider’s stock valued at $4,314,000 after acquiring an additional 200 shares in the last quarter. Simmons Bank raised its position in shares of Copart by 4.4% in the 4th quarter. Simmons Bank now owns 4,728 shares of the business services provider’s stock valued at $271,000 after purchasing an additional 200 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its stake in Copart by 2.3% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 9,226 shares of the business services provider’s stock worth $529,000 after purchasing an additional 208 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Performance

Copart stock opened at $54.80 on Friday. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38. The company has a market cap of $52.80 billion, a PE ratio of 36.78 and a beta of 1.33. The business’s 50-day simple moving average is $57.62 and its two-hundred day simple moving average is $55.89.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. Copart had a return on equity of 19.31% and a net margin of 32.27%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. As a group, analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Diane M. Morefield sold 30,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $58.01, for a total value of $1,740,300.00. Following the completion of the transaction, the director now directly owns 20,000 shares in the company, valued at $1,160,200. The trade was a 60.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction on Monday, January 6th. The shares were sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. Insiders sold a total of 398,790 shares of company stock valued at $23,161,540 over the last 90 days. Insiders own 9.68% of the company’s stock.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. upped their price target on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th.

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.