Pittenger & Anderson Inc. Increases Holdings in Copart, Inc. $CPRT

Pittenger & Anderson Inc. raised its holdings in Copart, Inc. (NASDAQ:CPRT) by 0.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 122,177 shares of the business services provider’s stock after purchasing an additional 1,046 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Copart were worth $5,995,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale raised its position in Copart by 18.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 411,055 shares of the business services provider’s stock valued at $20,062,000 after purchasing an additional 64,364 shares during the period. Stephens Inc. AR raised its position in Copart by 0.7% in the second quarter. Stephens Inc. AR now owns 30,312 shares of the business services provider’s stock valued at $1,487,000 after purchasing an additional 218 shares during the period. Quotient Wealth Partners LLC raised its position in Copart by 18.5% in the second quarter. Quotient Wealth Partners LLC now owns 6,820 shares of the business services provider’s stock valued at $335,000 after purchasing an additional 1,067 shares during the period. Koshinski Asset Management Inc. raised its position in Copart by 12.8% in the second quarter. Koshinski Asset Management Inc. now owns 5,562 shares of the business services provider’s stock valued at $273,000 after purchasing an additional 629 shares during the period. Finally, Chevy Chase Trust Holdings LLC raised its position in Copart by 1.2% in the second quarter. Chevy Chase Trust Holdings LLC now owns 470,641 shares of the business services provider’s stock valued at $23,094,000 after purchasing an additional 5,378 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

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

Copart Price Performance

CPRT opened at $44.76 on Tuesday. Copart, Inc. has a 12 month low of $43.32 and a 12 month high of $64.38. The stock has a market capitalization of $43.32 billion, a price-to-earnings ratio of 27.98 and a beta of 1.03. The business has a fifty day moving average price of $46.57 and a 200 day moving average price of $50.74.

Copart (NASDAQ:CPRT) last released 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 firm 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 firm posted $0.33 EPS. Copart’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Buying and Selling at Copart

In related news, Director Thomas N. Tryforos sold 228,840 shares of the business’s 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 is available through this hyperlink. Also, CEO Jeffrey Liaw sold 24,283 shares of the business’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total value of $1,087,635.57. Following the transaction, the chief executive officer directly owned 31,332 shares of the company’s stock, valued at $1,403,360.28. The trade was a 43.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 9.68% of the company’s stock.

Copart 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.