Copart, Inc. (NASDAQ:CPRT) Stock Position Lifted by BSW Wealth Partners

BSW Wealth Partners grew its position in shares of Copart, Inc. (NASDAQ:CPRT) by 4.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,972 shares of the business services provider’s stock after buying an additional 277 shares during the period. BSW Wealth Partners’ holdings in Copart were worth $342,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CPRT. Vanguard Group Inc. raised its position in shares of Copart by 100.6% during the 3rd quarter. Vanguard Group Inc. now owns 97,512,662 shares of the business services provider’s stock worth $4,201,821,000 after purchasing an additional 48,891,984 shares during the period. Principal Financial Group Inc. raised its position in shares of Copart by 96.8% during the 3rd quarter. Principal Financial Group Inc. now owns 39,803,057 shares of the business services provider’s stock worth $1,715,114,000 after purchasing an additional 19,576,719 shares during the period. Wellington Management Group LLP raised its position in shares of Copart by 84.4% during the 3rd quarter. Wellington Management Group LLP now owns 17,929,180 shares of the business services provider’s stock worth $772,568,000 after purchasing an additional 8,205,757 shares during the period. JPMorgan Chase & Co. raised its position in shares of Copart by 79.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,359,152 shares of the business services provider’s stock worth $748,006,000 after purchasing an additional 7,666,881 shares during the period. Finally, FMR LLC raised its position in shares of Copart by 93.6% during the 3rd quarter. FMR LLC now owns 14,733,860 shares of the business services provider’s stock worth $634,882,000 after purchasing an additional 7,122,991 shares during the period. Institutional investors own 85.78% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CPRT. JPMorgan Chase & Co. increased their price target on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday. StockNews.com cut Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $51.00.

Copart Price Performance

CPRT opened at $56.28 on Tuesday. The stock’s 50 day moving average price is $53.47 and its 200 day moving average price is $49.41. The stock has a market cap of $54.11 billion, a P/E ratio of 40.49 and a beta of 1.22. Copart, Inc. has a 12 month low of $36.83 and a 12 month high of $58.58.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. Copart had a net margin of 33.41% and a return on equity of 21.55%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.31 earnings per share. Equities analysts anticipate that Copart, Inc. will post 1.42 EPS for the current year.

Insider Buying and Selling at Copart

In other Copart news, Director Matt Blunt sold 100,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $51.06, for a total transaction of $5,106,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Chairman A Jayson Adair sold 600,000 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the completion of the sale, the chairman now directly owns 19,687,980 shares of the company’s stock, valued at approximately $1,137,374,604.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Matt Blunt sold 100,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $51.06, for a total value of $5,106,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 985,000 shares of company stock valued at $55,519,950. 10.23% of the stock is owned by corporate insiders.

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.