Copart, Inc. $CPRT Shares Sold by Simon Quick Advisors LLC

Simon Quick Advisors LLC decreased its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 17.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 45,071 shares of the business services provider’s stock after selling 9,806 shares during the quarter. Simon Quick Advisors LLC’s holdings in Copart were worth $2,212,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. GC Wealth Management RIA LLC acquired a new stake in Copart in the second quarter valued at about $219,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Copart by 52.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 23,862 shares of the business services provider’s stock worth $1,350,000 after buying an additional 8,181 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Copart by 3.5% during the 2nd quarter. Nordea Investment Management AB now owns 753,973 shares of the business services provider’s stock worth $36,153,000 after buying an additional 25,564 shares in the last quarter. Private Trust Co. NA raised its stake in shares of Copart by 16.5% during the 1st quarter. Private Trust Co. NA now owns 4,142 shares of the business services provider’s stock worth $234,000 after buying an additional 586 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Copart by 15.9% during the 1st quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider’s stock worth $868,417,000 after buying an additional 2,106,656 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

CPRT has been the subject of a number of analyst reports. Stephens cut their target price on Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a research note on Friday, September 5th. Hsbc Global Res raised Copart from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 4th. HSBC set a $62.00 target price on Copart and gave the stock a “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, Robert W. Baird cut their target price 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 investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $54.50.

Copart Trading Down 0.0%

CPRT stock opened at $42.48 on Friday. The firm has a 50 day moving average of $46.05 and a 200-day moving average of $50.07. Copart, Inc. has a 12-month low of $42.26 and a 12-month high of $64.38. The company has a market cap of $41.11 billion, a price-to-earnings ratio of 26.55 and a beta of 1.03.

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

Insider Buying and Selling

In other news, CEO Jeffrey Liaw sold 24,283 shares of Copart stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the completion of the sale, the chief executive officer directly owned 31,332 shares in the company, valued at approximately $1,403,360.28. This trade represents a 43.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas N. Tryforos sold 228,840 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $47.54, for a total transaction of $10,879,053.60. Additional details regarding this sale are available in the official SEC disclosure. 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.