Synovus Financial Corp Has $6.38 Million Stock Position in Copart, Inc. (NASDAQ:CPRT)

Synovus Financial Corp cut its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 8.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 121,678 shares of the business services provider’s stock after selling 11,264 shares during the quarter. Synovus Financial Corp’s holdings in Copart were worth $6,376,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Jensen Investment Management Inc. raised its stake in Copart by 2,466.0% during the 3rd quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock valued at $185,299,000 after purchasing an additional 3,398,423 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Copart by 462.8% during the third quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock valued at $192,240,000 after buying an additional 3,016,795 shares during the last quarter. Comgest Global Investors S.A.S. raised its position in shares of Copart by 706.6% during the third quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock valued at $83,153,000 after buying an additional 1,390,146 shares during the last quarter. Kimelman & Baird LLC bought a new stake in shares of Copart in the second quarter valued at about $70,307,000. Finally, Bank of New York Mellon Corp grew its position in Copart by 8.1% during the second quarter. Bank of New York Mellon Corp now owns 16,008,444 shares of the business services provider’s stock worth $867,017,000 after buying an additional 1,199,781 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

Copart Stock Down 1.4 %

NASDAQ CPRT opened at $61.23 on Friday. Copart, Inc. has a twelve month low of $46.21 and a twelve month high of $64.38. The stock has a market cap of $59.00 billion, a P/E ratio of 43.12 and a beta of 1.31. The company’s 50-day simple moving average is $57.01 and its 200 day simple moving average is $54.03.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, meeting the consensus estimate of $0.37. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The company’s revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.34 EPS. Research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CPRT has been the subject of a number of research reports. Robert W. Baird reduced their price objective on Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th. JPMorgan Chase & Co. raised their target price on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th.

Insider Buying and Selling at Copart

In other news, Director Thomas N. Tryforos sold 83,310 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $61.86, for a total value of $5,153,556.60. Following the transaction, the director now directly owns 7,850 shares of the company’s stock, valued at $485,601. The trade was a 91.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman A Jayson Adair sold 251,423 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total value of $16,038,273.17. Following the sale, the chairman now owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. This trade represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.