Logan Capital Management Inc. Has $17.27 Million Holdings in Copart, Inc. (NASDAQ:CPRT)

Logan Capital Management Inc. trimmed its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 1.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 329,517 shares of the business services provider’s stock after selling 3,751 shares during the period. Logan Capital Management Inc.’s holdings in Copart were worth $17,267,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Optimum Investment Advisors increased its holdings in Copart by 141.5% during the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after buying an additional 300 shares during the last quarter. Eastern Bank acquired a new position in Copart during the third quarter worth about $29,000. Quarry LP acquired a new stake in Copart in the third quarter valued at approximately $29,000. Crewe Advisors LLC grew its position in Copart by 98.6% during the 2nd quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock worth $31,000 after acquiring an additional 280 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in shares of Copart by 283.3% during the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock worth $31,000 after purchasing an additional 425 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Buying and Selling

In related news, Director Thomas N. Tryforos sold 83,310 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $61.86, for a total value of $5,153,556.60. Following the sale, the director now directly owns 7,850 shares of the company’s stock, valued at $485,601. This trade represents a 91.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the sale, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at $920,907,971.03. This represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.68% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CPRT shares. Robert W. Baird reduced their target price on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. JPMorgan Chase & Co. boosted their price objective on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th.

Copart Stock Down 0.5 %

CPRT traded down $0.30 during trading on Friday, hitting $61.78. The company’s stock had a trading volume of 119,210 shares, compared to its average volume of 4,418,013. The stock’s fifty day moving average price is $56.84 and its 200-day moving average price is $53.98. Copart, Inc. has a twelve month low of $46.21 and a twelve month high of $64.38. The firm has a market capitalization of $59.53 billion, a P/E ratio of 43.72 and a beta of 1.31.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. Copart had a return on equity of 18.96% and a net margin of 31.92%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the prior year, the company earned $0.34 earnings per share. The company’s quarterly revenue was up 12.4% on a year-over-year basis. Equities research analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

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.