Twin Capital Management Inc. Has $5.30 Million Holdings in Copart, Inc. (NASDAQ:CPRT)

Twin Capital Management Inc. decreased its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 38.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 70,860 shares of the business services provider’s stock after selling 43,920 shares during the period. Twin Capital Management Inc.’s holdings in Copart were worth $5,296,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of CPRT. Cordasco Financial Network grew its holdings in Copart by 170.7% in the 2nd quarter. Cordasco Financial Network now owns 471 shares of the business services provider’s stock valued at $35,000 after buying an additional 297 shares during the last quarter. Icon Wealth Partners LLC acquired a new stake in Copart in the 1st quarter valued at approximately $34,000. Meridian Wealth Management LLC acquired a new stake in Copart in the 1st quarter valued at approximately $40,000. Kavar Capital Partners LLC acquired a new stake in Copart in the 2nd quarter valued at approximately $76,000. Finally, Quadrant Capital Group LLC grew its holdings in Copart by 170.3% in the 1st quarter. Quadrant Capital Group LLC now owns 1,181 shares of the business services provider’s stock valued at $67,000 after buying an additional 744 shares during the last quarter. 83.78% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ CPRT traded up $0.31 during midday trading on Thursday, hitting $74.62. The stock had a trading volume of 37,655 shares, compared to its average volume of 1,215,999. The stock has a 50-day simple moving average of $76.35. The stock has a market cap of $17.03 billion, a price-to-earnings ratio of 43.16, a P/E/G ratio of 1.50 and a beta of 0.82. Copart, Inc. has a fifty-two week low of $44.61 and a fifty-two week high of $79.74. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.99 and a current ratio of 2.07.

Copart (NASDAQ:CPRT) last released its earnings results on Wednesday, May 22nd. The business services provider reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.05. The company had revenue of $553.12 million during the quarter, compared to analysts’ expectations of $535.62 million. Copart had a return on equity of 31.33% and a net margin of 28.12%. The business’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period last year, the firm earned $0.52 EPS. On average, sell-side analysts forecast that Copart, Inc. will post 2.21 earnings per share for the current fiscal year.

In related news, Director Matt Blunt sold 50,000 shares of Copart stock in a transaction on Friday, May 24th. The stock was sold at an average price of $71.00, for a total transaction of $3,550,000.00. Following the completion of the sale, the director now directly owns 50,000 shares of the company’s stock, valued at $3,550,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider William E. Franklin sold 41,007 shares of Copart stock in a transaction on Monday, July 15th. The stock was sold at an average price of $77.37, for a total value of $3,172,711.59. Following the sale, the insider now directly owns 58,974 shares of the company’s stock, valued at $4,562,818.38. The disclosure for this sale can be found here. Insiders sold a total of 423,458 shares of company stock valued at $31,198,755 over the last three months. Insiders own 15.99% of the company’s stock.

A number of analysts have issued reports on the company. Barrington Research reaffirmed a “hold” rating on shares of Copart in a report on Friday, May 24th. BidaskClub lowered Copart from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research raised Copart from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Monday, May 27th. SunTrust Banks raised their price objective on Copart to $78.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. Finally, Guggenheim downgraded Copart from a “buy” rating to a “neutral” rating and set a $67.07 price objective for the company. in a research report on Friday, May 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $66.77.

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.

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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