Westpac Banking Corp Sells 47,541 Shares of Copart, Inc. $CPRT

Westpac Banking Corp cut its position in Copart, Inc. (NASDAQ:CPRT) by 87.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 6,554 shares of the business services provider’s stock after selling 47,541 shares during the period. Westpac Banking Corp’s holdings in Copart were worth $322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Atticus Wealth Management LLC bought a new stake in shares of Copart in the second quarter valued at about $31,000. Ameritas Advisory Services LLC acquired a new stake in Copart in the 2nd quarter worth about $31,000. Creekmur Asset Management LLC boosted its holdings in Copart by 1,063.0% in the 2nd quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 574 shares during the period. Accent Capital Management LLC bought a new stake in Copart in the 1st quarter valued at about $36,000. Finally, Bank of Jackson Hole Trust grew its position in shares of Copart by 83.8% during the 2nd quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock worth $36,000 after purchasing an additional 335 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CPRT shares. Hsbc Global Res upgraded shares of Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. Stephens lowered 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. 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 restated a “hold (c)” rating on shares of Copart in a research report on Wednesday, October 8th. Finally, Barclays set a $32.00 price target on Copart in a research note on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $50.00.

Insider Activity

In other news, CEO Jeffrey Liaw sold 24,283 shares of the stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total value of $1,087,635.57. Following the completion of the transaction, the chief executive officer owned 31,332 shares of the company’s stock, valued at approximately $1,403,360.28. This represents a 43.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 shares were 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. 9.60% of the stock is currently owned by insiders.

Copart Stock Performance

Shares of CPRT stock opened at $41.33 on Tuesday. Copart, Inc. has a fifty-two week low of $39.58 and a fifty-two week high of $64.38. The stock’s fifty day moving average price is $44.34 and its two-hundred day moving average price is $48.34. The company has a market cap of $40.00 billion, a PE ratio of 25.83 and a beta of 1.06.

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

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.