Peapack Gladstone Financial Corp Grows Position in Copart, Inc. (NASDAQ:CPRT)

Peapack Gladstone Financial Corp grew its stake in Copart, Inc. (NASDAQ:CPRT) by 3.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 108,505 shares of the business services provider’s stock after buying an additional 3,855 shares during the period. Peapack Gladstone Financial Corp’s holdings in Copart were worth $6,227,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Mn Services Vermogensbeheer B.V. increased its holdings in Copart by 2.5% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 339,680 shares of the business services provider’s stock worth $19,494,000 after buying an additional 8,300 shares during the period. National Pension Service increased its stake in shares of Copart by 3.2% in the fourth quarter. National Pension Service now owns 1,558,067 shares of the business services provider’s stock worth $89,417,000 after acquiring an additional 48,334 shares during the period. Tsai Capital Corp raised its holdings in shares of Copart by 13.3% during the fourth quarter. Tsai Capital Corp now owns 61,689 shares of the business services provider’s stock worth $3,540,000 after purchasing an additional 7,230 shares during the last quarter. Kieckhefer Group LLC acquired a new position in Copart during the fourth quarter valued at $3,962,000. Finally, Sanctuary Advisors LLC boosted its holdings in Copart by 21.2% in the third quarter. Sanctuary Advisors LLC now owns 52,767 shares of the business services provider’s stock valued at $2,765,000 after purchasing an additional 9,222 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Argus lowered Copart from a “buy” rating to a “hold” rating in a research note on Friday, March 14th.

Copart Price Performance

Shares of NASDAQ CPRT opened at $54.51 on Monday. The stock has a market capitalization of $52.66 billion, a price-to-earnings ratio of 36.58 and a beta of 1.22. The firm’s 50 day simple moving average is $56.23 and its 200-day simple moving average is $56.45. Copart, Inc. has a 12 month low of $48.05 and a 12 month high of $64.38.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share (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 firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. Analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Activity

In related news, Director James E. Meeks sold 100,000 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total value of $5,400,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 9.68% of the company’s stock.

Copart Company 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.