Newbridge Financial Services Group Inc. Cuts Stake in Copart, Inc. (NASDAQ:CPRT)

Newbridge Financial Services Group Inc. lowered its position in shares of Copart, Inc. (NASDAQ:CPRT) by 20.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,008 shares of the business services provider’s stock after selling 260 shares during the period. Newbridge Financial Services Group Inc.’s holdings in Copart were worth $49,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Nomura Holdings Inc. increased its stake in shares of Copart by 148.0% during the fourth quarter. Nomura Holdings Inc. now owns 17,612 shares of the business services provider’s stock valued at $863,000 after buying an additional 10,511 shares during the period. HighPoint Advisor Group LLC purchased a new position in Copart in the fourth quarter valued at about $495,000. Trust Co. of Vermont purchased a new position in Copart in the fourth quarter valued at about $38,000. American International Group Inc. grew its stake in Copart by 1.4% in the fourth quarter. American International Group Inc. now owns 348,695 shares of the business services provider’s stock valued at $17,086,000 after purchasing an additional 4,820 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its stake in Copart by 11.0% in the fourth quarter. EP Wealth Advisors LLC now owns 8,788 shares of the business services provider’s stock valued at $431,000 after purchasing an additional 872 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CPRT shares. JPMorgan Chase & Co. lifted their target price on Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. StockNews.com lowered Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Copart presently has a consensus rating of “Hold” and an average target price of $51.00.

Insiders Place Their Bets

In other news, Chairman A Jayson Adair sold 600,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $57.77, for a total value of $34,662,000.00. Following the completion of the transaction, the chairman now directly owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 10.23% of the stock is currently owned by insiders.

Copart Stock Up 0.9 %

Shares of Copart stock opened at $54.86 on Wednesday. The company has a 50 day moving average price of $54.30 and a 200 day moving average price of $52.26. The firm has a market capitalization of $52.79 billion, a P/E ratio of 38.63 and a beta of 1.26. Copart, Inc. has a 52 week low of $42.41 and a 52 week high of $58.58.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, May 16th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Copart had a net margin of 33.33% and a return on equity of 20.80%. The business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the company posted $0.36 earnings per share. As a group, research analysts anticipate that Copart, Inc. will post 1.43 earnings per share for the current fiscal year.

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.