Sowell Financial Services LLC Buys Shares of 10,678 Copart, Inc. (NASDAQ:CPRT)

Sowell Financial Services LLC bought a new stake in shares of Copart, Inc. (NASDAQ:CPRT) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,678 shares of the business services provider’s stock, valued at approximately $604,000.

A number of other hedge funds have also made changes to their positions in the company. HighPoint Advisor Group LLC raised its holdings in shares of Copart by 1.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 9,747 shares of the business services provider’s stock valued at $577,000 after acquiring an additional 175 shares during the last quarter. Sandy Spring Bank raised its holdings in shares of Copart by 59.5% during the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 176 shares during the last quarter. Lindbrook Capital LLC raised its holdings in shares of Copart by 3.2% during the fourth quarter. Lindbrook Capital LLC now owns 6,007 shares of the business services provider’s stock valued at $345,000 after acquiring an additional 184 shares during the last quarter. Nixon Peabody Trust Co. raised its holdings in shares of Copart by 5.0% during the first quarter. Nixon Peabody Trust Co. now owns 4,108 shares of the business services provider’s stock valued at $232,000 after acquiring an additional 195 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of Copart by 0.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 75,170 shares of the business services provider’s stock valued at $4,314,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analysts Set New Price Targets

CPRT has been the subject of a number of research analyst reports. Argus cut Copart from a “buy” rating to a “hold” rating in a report on Friday, March 14th. JPMorgan Chase & Co. dropped their price target on Copart from $60.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, May 23rd.

Insider Activity

In related news, Director Steven D. Cohan sold 94,997 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $60.01, for a total value of $5,700,769.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 9.68% of the company’s stock.

Copart Price Performance

CPRT stock opened at $47.88 on Friday. The business has a 50 day simple moving average of $56.82 and a 200-day simple moving average of $57.09. The firm has a market capitalization of $46.30 billion, a PE ratio of 31.50 and a beta of 1.10. Copart, Inc. has a 1 year low of $47.70 and a 1 year high of $64.38.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.23 billion. Copart had a return on equity of 18.20% and a net margin of 32.21%. The business’s revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.39 earnings per share. On average, equities research analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

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.