UMB Bank n.a. Cuts Position in Copart, Inc. (NASDAQ:CPRT)

UMB Bank n.a. trimmed its position in shares of Copart, Inc. (NASDAQ:CPRT) by 5.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,315 shares of the business services provider’s stock after selling 769 shares during the period. UMB Bank n.a.’s holdings in Copart were worth $701,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Independence Bank of Kentucky increased its stake in shares of Copart by 114.3% during the fourth quarter. Independence Bank of Kentucky now owns 7,218 shares of the business services provider’s stock worth $354,000 after buying an additional 3,850 shares during the period. First Citizens Bank & Trust Co. boosted its holdings in shares of Copart by 3.6% in 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 acquiring an additional 268 shares during the period. Chicago Capital LLC boosted its holdings in shares of Copart by 71.1% in the fourth quarter. Chicago Capital LLC now owns 183,414 shares of the business services provider’s stock valued at $8,987,000 after acquiring an additional 76,214 shares during the period. Bensler LLC boosted its holdings in shares of Copart by 17.5% in the fourth quarter. Bensler LLC now owns 159,974 shares of the business services provider’s stock valued at $7,839,000 after acquiring an additional 23,778 shares during the period. Finally, Bellecapital International Ltd. boosted its holdings in shares of Copart by 53.8% in the fourth quarter. Bellecapital International Ltd. now owns 151,025 shares of the business services provider’s stock valued at $7,400,000 after acquiring an additional 52,851 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. assumed coverage on Copart in a report on Tuesday, February 27th. They set a “neutral” rating and a $48.00 price target for the company. StockNews.com downgraded Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $50.00.

Copart Stock Performance

Copart stock opened at $55.74 on Friday. The company has a market cap of $53.59 billion, a P/E ratio of 40.10 and a beta of 1.22. Copart, Inc. has a one year low of $36.78 and a one year high of $58.58. The business has a fifty day moving average of $53.14 and a two-hundred day moving average of $49.16.

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

Insiders Place Their Bets

In other Copart news, Director Matt Blunt sold 100,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $51.06, for a total transaction of $5,106,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Thomas N. Tryforos sold 285,000 shares of Copart stock in a transaction on 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 completion of the transaction, the director now owns 35,000 shares of the company’s stock, valued at approximately $1,934,450. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Matt Blunt sold 100,000 shares of Copart stock in a transaction on Monday, February 26th. The stock was sold at an average price of $51.06, for a total value of $5,106,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 985,000 shares of company stock worth $55,519,950. Corporate insiders own 10.23% of the company’s stock.

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.