Copart, Inc. $CPRT Shares Purchased by Perryman Financial Advisory Inc. AD

Perryman Financial Advisory Inc. AD raised its position in shares of Copart, Inc. (NASDAQ:CPRT) by 463.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,946 shares of the business services provider’s stock after acquiring an additional 50,946 shares during the period. Perryman Financial Advisory Inc. AD’s holdings in Copart were worth $1,690,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of Copart in the second quarter worth about $1,908,980,000. Bank of New York Mellon Corp bought a new stake in Copart during the 2nd quarter valued at approximately $488,663,000. Deutsche Bank AG bought a new stake in Copart during the 2nd quarter valued at approximately $436,413,000. Bank of America Corp DE acquired a new stake in Copart in the 2nd quarter valued at approximately $191,347,000. Finally, Legal & General Group Plc acquired a new stake in Copart in the 2nd quarter valued at approximately $167,000,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Stock Up 0.4%

NASDAQ CPRT traded up $0.12 during midday trading on Friday, hitting $27.87. The company had a trading volume of 24,458,117 shares, compared to its average volume of 10,184,003. The firm has a fifty day simple moving average of $30.09 and a two-hundred day simple moving average of $30.82. Copart, Inc. has a fifty-two week low of $25.72 and a fifty-two week high of $45.89. The stock has a market cap of $25.82 billion, a price-to-earnings ratio of 17.98, a P/E/G ratio of 1.36 and a beta of 1.06.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, September 10th. The business services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). Copart had a net margin of 31.81% and a return on equity of 15.93%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the prior year, the company posted $0.41 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, equities analysts predict that Copart, Inc. will post 1.63 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total transaction of $845,945.05. Following the sale, the chief executive officer directly owned 99,641 shares of the company’s stock, valued at $3,038,054.09. This trade represents a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. HSBC downgraded Copart from a “buy” rating to a “hold” rating and set a $36.00 price target on the stock. in a research report on Wednesday, September 16th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Copart in a report on Wednesday, July 29th. Freedom Capital raised Copart to a “strong-buy” rating in a research report on Friday, June 26th. Robert W. Baird reduced their price objective on Copart from $42.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, September 11th. Finally, Freedom Broker lowered their price objective on shares of Copart from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, September 14th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $37.80.

Copart Profile

Copart, Inc is a global provider of online vehicle auction and remarketing services. The company primarily sells vehicles that have been damaged, totaled, recovered from theft, or otherwise deemed uneconomical to repair. Its customers include insurance companies, automobile dealers, dismantlers, rebuilders, exporters, rental and finance companies, and members of the general public.

Copart conducts auctions through its online VB3 platform, which connects buyers with vehicles listed at the company’s facilities.