Vise Technologies Inc. Purchases Shares of 21,911 Copart, Inc. $CPRT

Vise Technologies Inc. acquired a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 21,911 shares of the business services provider’s stock, valued at approximately $1,075,000.

Several other hedge funds have also recently added to or reduced their stakes in CPRT. Allworth Financial LP grew its position in shares of Copart by 0.8% in the 2nd quarter. Allworth Financial LP now owns 28,978 shares of the business services provider’s stock worth $1,422,000 after buying an additional 228 shares during the last quarter. Illinois Municipal Retirement Fund lifted its stake in shares of Copart by 36.7% in the second quarter. Illinois Municipal Retirement Fund now owns 138,844 shares of the business services provider’s stock worth $6,813,000 after buying an additional 37,311 shares in the last quarter. ProShare Advisors LLC raised its stake in Copart by 7.5% during the second quarter. ProShare Advisors LLC now owns 1,496,952 shares of the business services provider’s stock worth $73,455,000 after purchasing an additional 104,447 shares during the period. Midwest Trust Co acquired a new stake in Copart in the 2nd quarter valued at approximately $7,093,000. Finally, Flossbach Von Storch SE raised its position in Copart by 93.6% in the 2nd quarter. Flossbach Von Storch SE now owns 1,135,122 shares of the business services provider’s stock valued at $55,700,000 after purchasing an additional 548,712 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling

In other Copart news, Director Thomas N. Tryforos sold 228,840 shares of the firm’s stock in a transaction dated 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 SEC, which can be accessed through this link. Also, CEO Jeffrey Liaw sold 24,283 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer owned 31,332 shares in the company, valued at $1,403,360.28. This represents a 43.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 9.60% of the company’s stock.

Copart Trading Up 0.8%

CPRT stock traded up $0.35 during midday trading on Thursday, hitting $41.63. The stock had a trading volume of 445,399 shares, compared to its average volume of 6,121,967. Copart, Inc. has a 1-year low of $39.58 and a 1-year high of $64.38. The business has a fifty day moving average price of $44.80 and a two-hundred day moving average price of $48.83. The firm has a market cap of $40.29 billion, a P/E ratio of 26.02 and a beta of 1.06.

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

Wall Street Analyst Weigh In

CPRT has been the subject of a number of recent research reports. Robert W. Baird decreased their price objective on Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, July 17th. Stephens dropped their price objective on Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a report on Friday, September 5th. Barclays set a $32.00 price target on shares of Copart in a research note on Tuesday. Weiss Ratings restated a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. Finally, Hsbc Global Res raised Copart from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $50.00.

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.