Copart, Inc. $CPRT Shares Acquired by Rockbridge Capital Management LLC

Rockbridge Capital Management LLC lifted its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 3.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 247,819 shares of the business services provider’s stock after buying an additional 7,548 shares during the quarter. Copart makes up approximately 6.9% of Rockbridge Capital Management LLC’s investment portfolio, making the stock its 7th largest position. Rockbridge Capital Management LLC’s holdings in Copart were worth $12,160,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CPRT. GC Wealth Management RIA LLC acquired a new position in Copart in the 2nd quarter valued at $219,000. Sowell Financial Services LLC acquired a new position in Copart in the 1st quarter valued at $604,000. China Universal Asset Management Co. Ltd. raised its stake in Copart by 52.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 23,862 shares of the business services provider’s stock valued at $1,350,000 after purchasing an additional 8,181 shares during the last quarter. Private Trust Co. NA raised its stake in Copart by 16.5% in the 1st quarter. Private Trust Co. NA now owns 4,142 shares of the business services provider’s stock valued at $234,000 after purchasing an additional 586 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Copart by 15.9% in the 1st quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider’s stock valued at $868,417,000 after purchasing an additional 2,106,656 shares during the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Copart

In other news, Director Thomas N. Tryforos sold 228,840 shares of the stock in a transaction on 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 link. Corporate insiders own 9.68% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on CPRT. Robert W. Baird reduced their price objective on Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, July 17th. HSBC set a $62.00 price objective on Copart and gave the company a “buy” rating in a research note on Thursday, September 4th. Hsbc Global Res raised Copart from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. Finally, Stephens dropped their target price on Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.50.

Copart Trading Down 0.5%

NASDAQ CPRT opened at $44.56 on Thursday. The stock has a market cap of $43.12 billion, a PE ratio of 27.85 and a beta of 1.03. Copart, Inc. has a twelve month low of $43.71 and a twelve month high of $64.38. The stock has a fifty day simple moving average of $46.68 and a 200-day simple moving average of $51.06.

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