Copart, Inc. $CPRT Shares Newly Purchased by Van Strum & Towne Inc.

Van Strum & Towne Inc. purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 72,526 shares of the business services provider’s stock, valued at approximately $1,979,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. C M Bidwell & Associates Ltd. acquired a new position in shares of Copart in the 2nd quarter valued at about $25,000. Byrne Asset Management LLC purchased a new stake in shares of Copart during the 3rd quarter worth about $25,000. Versant Capital Management Inc increased its position in Copart by 110.9% during the 2nd quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock worth $27,000 after purchasing an additional 498 shares in the last quarter. Provenance Wealth Advisors LLC increased its position in Copart by 3,550.0% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 1,022 shares of the business services provider’s stock worth $28,000 after purchasing an additional 994 shares in the last quarter. Finally, Salomon & Ludwin LLC increased its position in Copart by 62.5% during the 3rd quarter. Salomon & Ludwin LLC now owns 1,076 shares of the business services provider’s stock worth $29,000 after purchasing an additional 414 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Copart news, Director Diane Morefield sold 20,000 shares of the stock in a transaction that occurred on Thursday, October 15th. The shares were sold at an average price of $27.66, for a total value of $553,200.00. Following the completion of the sale, the director owned 50,000 shares of the company’s stock, valued at $1,383,000. This trade represents a 28.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.30% of the stock is currently owned by corporate insiders.

Copart Price Performance

Shares of NASDAQ CPRT opened at $32.00 on Friday. Copart, Inc. has a 1-year low of $25.72 and a 1-year high of $41.90. The business has a 50-day moving average of $29.42 and a 200-day moving average of $32.04. The company has a market capitalization of $29.64 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 1.58 and a beta of 1.01.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, September 10th. The business services provider reported $0.35 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.03). The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Copart had a net margin of 31.81% and a return on equity of 15.93%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.41 earnings per share. Research analysts expect that Copart, Inc. will post 1.63 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Deutsche Bank set a $40.00 price target on shares of Copart in a report on Thursday, September 3rd. BNP Paribas Exane reiterated an “outperform” rating and set a $43.00 price objective (up from $40.00) on shares of Copart in a research note on Monday, September 28th. Barclays set a $25.00 price objective on shares of Copart and gave the stock an “underweight” rating in a research report on Wednesday, August 26th. Zacks Research raised shares of Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, September 7th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Copart in a report on Tuesday, October 27th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Copart has an average rating of “Moderate Buy” and an average target price of $37.90.

Copart Profile

Copart, Inc. operates an online vehicle auction and remarketing business. Its platform connects sellers with buyers of used and damaged vehicles, including cars, trucks, motorcycles and other equipment. The company serves insurance companies, vehicle dealers, rental and fleet operators, financial institutions and other businesses, as well as individual buyers. Its services include online auctions, vehicle storage, title processing and support with vehicle transportation. Founded in 1982 by Willis Johnson, Copart has expanded from its origins in the United States to serve customers in multiple countries, including markets in North America, Europe and the Middle East.