MBE Wealth Management LLC Purchases 633 Shares of Copart, Inc. $CPRT

MBE Wealth Management LLC raised its position in Copart, Inc. (NASDAQ:CPRT) by 10.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,939 shares of the business services provider’s stock after buying an additional 633 shares during the quarter. MBE Wealth Management LLC’s holdings in Copart were worth $340,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Copart by 2.1% in the first quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider’s stock valued at $5,900,295,000 after buying an additional 2,134,890 shares during the period. Principal Financial Group Inc. raised its stake in shares of Copart by 3.3% in the first quarter. Principal Financial Group Inc. now owns 39,409,377 shares of the business services provider’s stock valued at $2,230,177,000 after buying an additional 1,249,687 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Copart by 15.9% in the first quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider’s stock valued at $868,417,000 after buying an additional 2,106,656 shares during the period. Invesco Ltd. raised its stake in shares of Copart by 7.5% in the first quarter. Invesco Ltd. now owns 9,490,237 shares of the business services provider’s stock valued at $537,052,000 after buying an additional 658,329 shares during the period. Finally, Amundi raised its stake in shares of Copart by 32.5% in the first quarter. Amundi now owns 9,380,026 shares of the business services provider’s stock valued at $531,256,000 after buying an additional 2,299,192 shares during the period. 85.78% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Thomas N. Tryforos sold 228,840 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $47.54, for a total transaction of $10,879,053.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeffrey Liaw sold 24,088 shares of the business’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total value of $1,118,405.84. Following the transaction, the chief executive officer owned 31,527 shares of the company’s stock, valued at approximately $1,463,798.61. The trade was a 43.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.68% of the stock is owned by insiders.

Copart Stock Performance

NASDAQ:CPRT opened at $44.89 on Friday. Copart, Inc. has a 52-week low of $44.67 and a 52-week high of $64.38. The firm has a market cap of $43.41 billion, a price-to-earnings ratio of 28.06 and a beta of 1.03. The business’s fifty day moving average is $47.15 and its 200 day moving average is $51.97.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, September 4th. The business services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.37 by $0.04. Copart had a return on equity of 18.17% and a net margin of 33.41%.The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the business earned $0.33 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. Equities analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on CPRT shares. Hsbc Global Res upgraded Copart from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 4th. HSBC set a $62.00 price objective on Copart and gave the company a “buy” rating in a research note on Thursday, September 4th. Robert W. Baird decreased their price objective on Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, July 17th. Finally, Stephens decreased their price objective on Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.50.

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.