Commerce Bank Has $12 Million Position in Copart, Inc. (NASDAQ:CPRT)

Commerce Bank cut its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 10.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 209,028 shares of the business services provider’s stock after selling 24,344 shares during the quarter. Commerce Bank’s holdings in Copart were worth $11,996,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Sandy Spring Bank lifted its stake in shares of Copart by 59.5% in the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock worth $27,000 after acquiring an additional 176 shares during the period. Curio Wealth LLC acquired a new position in shares of Copart in the 4th quarter worth approximately $52,000. Retirement Wealth Solutions LLC bought a new stake in shares of Copart in the 4th quarter valued at $54,000. Eastern Bank increased its position in shares of Copart by 115.1% during the fourth quarter. Eastern Bank now owns 1,196 shares of the business services provider’s stock worth $69,000 after buying an additional 640 shares during the period. Finally, Golden State Wealth Management LLC bought a new position in Copart during the fourth quarter worth $73,000. 85.78% of the stock is owned by institutional investors.

Copart Stock Performance

Shares of CPRT opened at $59.68 on Friday. The firm has a market cap of $57.66 billion, a PE ratio of 40.05 and a beta of 1.22. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The business’s 50 day moving average price is $56.22 and its two-hundred day moving average price is $56.87.

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

Wall Street Analyst Weigh In

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

Insider Activity at Copart

In other Copart news, Director James E. Meeks sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total value of $5,400,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven D. Cohan sold 94,997 shares of the company’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $60.01, for a total value of $5,700,769.97. The disclosure for this sale can be found here. Insiders sold 200,000 shares of company stock valued at $11,401,000 in the last three months. Corporate insiders own 9.68% of the company’s stock.

About Copart

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.