Cullen Frost Bankers Inc. Sells 439 Shares of Copart, Inc. (NASDAQ:CPRT)

Cullen Frost Bankers Inc. cut its position in shares of Copart, Inc. (NASDAQ:CPRT) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 31,369 shares of the business services provider’s stock after selling 439 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Copart were worth $1,537,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Savant Capital LLC raised its stake in Copart by 3.8% in the fourth quarter. Savant Capital LLC now owns 6,933 shares of the business services provider’s stock valued at $340,000 after purchasing an additional 251 shares in the last quarter. First Citizens Bank & Trust Co. raised its stake in 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 purchasing an additional 268 shares in the last quarter. BSW Wealth Partners raised its stake in Copart by 4.1% in the fourth quarter. BSW Wealth Partners now owns 6,972 shares of the business services provider’s stock valued at $342,000 after purchasing an additional 277 shares in the last quarter. Manchester Capital Management LLC raised its stake in Copart by 101.0% in the third quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 314 shares in the last quarter. Finally, Bell Investment Advisors Inc raised its stake in Copart by 87.1% in the third quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 323 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Performance

Shares of Copart stock opened at $55.26 on Friday. Copart, Inc. has a 52-week low of $39.62 and a 52-week high of $58.58. The stock has a market capitalization of $53.13 billion, a price-to-earnings ratio of 39.76 and a beta of 1.22. The company’s 50 day moving average price is $55.61 and its 200-day moving average price is $51.01.

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

Insider Activity at Copart

In other Copart news, Director Thomas N. Tryforos sold 285,000 shares of the firm’s 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 $1,934,450. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Copart news, Director Thomas N. Tryforos sold 285,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman A Jayson Adair sold 600,000 shares of the company’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 sale, the chairman now owns 19,687,980 shares of the company’s stock, valued at approximately $1,137,374,604.60. The disclosure for this sale can be found here. Insiders have sold a total of 985,000 shares of company stock worth $55,519,950 over the last quarter. Corporate insiders own 10.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CPRT. JPMorgan Chase & Co. increased their price target on shares of Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. StockNews.com cut shares of Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Copart currently has an average rating of “Hold” and an average target price of $51.00.

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.