Ipswich Investment Management Co. Inc. Makes New $304,000 Investment in Copart, Inc. (NASDAQ:CPRT)

Ipswich Investment Management Co. Inc. acquired a new position in Copart, Inc. (NASDAQ:CPRT) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 5,290 shares of the business services provider’s stock, valued at approximately $304,000.

Other hedge funds also recently modified their holdings of the company. Eastern Bank bought a new stake in shares of Copart in the 3rd quarter worth approximately $29,000. Quarry LP bought a new stake in shares of Copart in the 3rd quarter worth approximately $29,000. Ashton Thomas Securities LLC bought a new stake in shares of Copart in the 3rd quarter worth approximately $33,000. True Wealth Design LLC lifted its position in shares of Copart by 1,737.1% in the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after acquiring an additional 608 shares during the period. Finally, Retirement Wealth Solutions LLC bought a new stake in shares of Copart in the 4th quarter worth approximately $54,000. Institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

Separately, 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 Copart stock in a transaction 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 completion of the sale, the director now directly owns 7,850 shares of the company’s stock, valued at approximately $485,601. This trade represents a 91.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total value of $16,038,273.17. Following the completion of the sale, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at $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. In the last quarter, insiders sold 650,213 shares of company stock worth $39,199,813. 9.68% of the stock is currently owned by insiders.

Copart Price Performance

Copart stock opened at $56.61 on Friday. The company has a market capitalization of $54.55 billion, a PE ratio of 39.87 and a beta of 1.33. Copart, Inc. has a one year low of $48.05 and a one year high of $64.38. The business has a 50 day simple moving average of $57.97 and a 200 day simple moving average of $55.65.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. Copart had a return on equity of 18.96% and a net margin of 31.92%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. Equities analysts anticipate that Copart, Inc. will post 1.57 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.