Integrated Wealth Concepts LLC Purchases 43,292 Shares of Copart, Inc. $CPRT

Integrated Wealth Concepts LLC lifted its position in Copart, Inc. (NASDAQ:CPRT) by 21.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 249,396 shares of the business services provider’s stock after buying an additional 43,292 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Copart were worth $11,215,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Copart by 13.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 371,603 shares of the business services provider’s stock worth $16,711,000 after buying an additional 45,346 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of Copart by 89.0% in the second quarter. California Public Employees Retirement System now owns 2,548,275 shares of the business services provider’s stock worth $125,044,000 after acquiring an additional 1,200,035 shares during the last quarter. Principal Financial Group Inc. increased its position in Copart by 3.2% during the third quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider’s stock worth $1,806,674,000 after acquiring an additional 1,236,101 shares during the period. Yacktman Asset Management LP bought a new position in Copart during the third quarter worth $3,382,000. Finally, Comgest Global Investors S.A.S. raised its stake in Copart by 7.2% during the 3rd quarter. Comgest Global Investors S.A.S. now owns 3,181,919 shares of the business services provider’s stock valued at $143,091,000 after purchasing an additional 212,520 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CPRT has been the subject of a number of research reports. Zacks Research downgraded shares of Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 24th. JPMorgan Chase & Co. cut their price objective on shares of Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, February 23rd. CJS Securities raised Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Robert W. Baird set a $48.00 price target on Copart and gave the company an “outperform” rating in a research note on Friday, February 20th. Finally, Barclays reaffirmed an “underweight” rating and issued a $32.00 price target (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $44.40.

Copart Stock Performance

Shares of NASDAQ CPRT opened at $33.88 on Tuesday. Copart, Inc. has a 52-week low of $33.53 and a 52-week high of $63.85. The business has a fifty day moving average of $38.62 and a two-hundred day moving average of $41.27. The stock has a market cap of $32.64 billion, a PE ratio of 21.18 and a beta of 1.09.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.15 billion. Copart had a return on equity of 16.68% and a net margin of 33.76%.The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.40 EPS. Analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of the company’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the sale, the chief executive officer directly owned 55,970 shares of the company’s stock, valued at approximately $2,248,314.90. This represents a 30.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 9.60% of the company’s stock.

Copart Company Profile

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.