Wilmington Savings Fund Society FSB Makes New $317,000 Investment in Copart, Inc. (NASDAQ:CPRT)

Wilmington Savings Fund Society FSB bought a new position in Copart, Inc. (NASDAQ:CPRT) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,044 shares of the business services provider’s stock, valued at approximately $317,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in Copart by 2.5% in the 3rd quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider’s stock worth $2,037,130,000 after acquiring an additional 941,858 shares during the period. State Street Corp grew its stake in shares of Copart by 0.4% during the 3rd quarter. State Street Corp now owns 34,157,967 shares of the business services provider’s stock valued at $1,789,877,000 after buying an additional 120,939 shares during the period. Edgewood Management LLC grew its stake in shares of Copart by 0.6% during the 3rd quarter. Edgewood Management LLC now owns 20,555,713 shares of the business services provider’s stock valued at $1,077,119,000 after buying an additional 125,220 shares during the period. Geode Capital Management LLC grew its stake in shares of Copart by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 18,763,926 shares of the business services provider’s stock valued at $979,547,000 after buying an additional 291,580 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Copart by 8.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider’s stock valued at $867,017,000 after buying an additional 1,199,781 shares during the period. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Trading Down 0.7 %

NASDAQ:CPRT opened at $60.67 on Wednesday. The firm has a market capitalization of $58.46 billion, a price-to-earnings ratio of 42.73 and a beta of 1.31. The firm’s fifty day simple moving average is $57.30 and its 200 day simple moving average is $54.17. Copart, Inc. has a twelve month low of $46.21 and a twelve month high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, hitting analysts’ consensus estimates of $0.37. Copart had a net margin of 31.92% and a return on equity of 18.96%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the previous year, the business posted $0.34 EPS. The firm’s revenue was up 12.4% compared to the same quarter last year. On average, analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Transactions at Copart

In other news, Chairman A Jayson Adair sold 251,423 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total value of $16,038,273.17. Following the completion of the sale, the chairman now owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. The trade was a 1.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas N. Tryforos sold 83,310 shares of the business’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $61.86, for a total transaction of $5,153,556.60. Following the completion of the sale, the director now directly owns 7,850 shares of the company’s stock, valued at $485,601. The trade was a 91.39 % decrease in their position. The disclosure for this sale can be found here. Insiders own 9.68% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective 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. Robert W. Baird lowered their price objective on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th.

Copart Company 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.