Bourgeon Capital Management LLC Takes $290,000 Position in Copart, Inc. $CPRT

Bourgeon Capital Management LLC acquired a new stake in shares of Copart, Inc. (NASDAQ:CPRT) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 5,916 shares of the business services provider’s stock, valued at approximately $290,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CPRT. Brighton Jones LLC raised its position in shares of Copart by 92.1% during the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock valued at $816,000 after purchasing an additional 6,817 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Copart by 22.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 87,613 shares of the business services provider’s stock valued at $5,028,000 after purchasing an additional 16,072 shares during the period. Versant Capital Management Inc grew its stake in Copart by 1,567.9% during the first quarter. Versant Capital Management Inc now owns 884 shares of the business services provider’s stock valued at $50,000 after acquiring an additional 831 shares in the last quarter. GAMMA Investing LLC increased its holdings in Copart by 6,774.3% in the 1st quarter. GAMMA Investing LLC now owns 1,151,720 shares of the business services provider’s stock valued at $65,176,000 after acquiring an additional 1,134,966 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its holdings in Copart by 12.0% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 10,332 shares of the business services provider’s stock valued at $585,000 after acquiring an additional 1,106 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CPRT has been the topic of a number of research reports. Robert W. Baird reduced their price target on shares of Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, July 17th. Stephens reduced their price target on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a report on Friday, September 5th. HSBC set a $62.00 price target on shares of Copart and gave the company a “buy” rating in a report on Thursday, September 4th. Finally, Hsbc Global Res upgraded shares of Copart from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $54.50.

Copart Trading Down 0.6%

Copart stock opened at $44.60 on Tuesday. The firm has a 50-day moving average price of $47.09 and a 200-day moving average price of $51.85. The firm has a market capitalization of $43.13 billion, a PE ratio of 27.88 and a beta of 1.03. Copart, Inc. has a 12-month low of $44.47 and a 12-month high of $64.38.

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

Insider Activity

In other news, Director Thomas N. Tryforos sold 228,840 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $47.54, for a total value of $10,879,053.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey Liaw sold 24,088 shares of the firm’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the completion of the sale, the chief executive officer owned 31,527 shares of the company’s stock, valued at $1,463,798.61. This trade represents a 43.31% decrease in their position. The disclosure for this sale can be found here. 9.68% of the stock is currently owned by company insiders.

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.