Treasurer of the State of North Carolina Boosts Stake in Copart, Inc. (NASDAQ:CPRT)

Treasurer of the State of North Carolina boosted its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 0.6% in the fourth quarter, HoldingsChannel reports. The fund owned 383,643 shares of the business services provider’s stock after acquiring an additional 2,410 shares during the period. Treasurer of the State of North Carolina’s holdings in Copart were worth $22,017,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Sandy Spring Bank grew its holdings in shares of Copart by 59.5% during the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock valued at $27,000 after buying an additional 176 shares during the last quarter. Quarry LP purchased a new stake in Copart during the 3rd quarter valued at $29,000. Curio Wealth LLC bought a new position in shares of Copart during the 4th quarter valued at $52,000. Continuum Advisory LLC boosted its stake in shares of Copart by 88.6% in the 3rd quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock worth $55,000 after buying an additional 452 shares during the last quarter. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Copart in the fourth quarter worth $54,000. 85.78% of the stock is owned by institutional investors.

Copart Price Performance

Shares of CPRT stock opened at $59.84 on Friday. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38. The firm has a fifty day moving average price of $56.12 and a 200-day moving average price of $56.64. The company has a market cap of $57.81 billion, a price-to-earnings ratio of 40.16 and a beta of 1.22.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.02. Copart had a net margin of 32.27% and a return on equity of 19.31%. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Equities research analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Insider Transactions at Copart

In related news, Director James E. Meeks sold 100,000 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total transaction of $5,400,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 9.68% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Argus downgraded Copart from a “buy” rating to a “hold” rating in a report on Friday, March 14th.

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.