Copart, Inc. (CPRT) Stake Raised by Advisor Group Inc.
Advisor Group Inc. grew its stake in Copart, Inc. (NASDAQ:CPRT) by 109.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,405 shares of the business services provider’s stock after purchasing an additional 4,399 shares during the quarter. Advisor Group Inc.’s holdings in Copart were worth $267,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of the company. Suntrust Banks Inc. raised its stake in shares of Copart by 169.1% in the 2nd quarter. Suntrust Banks Inc. now owns 9,022 shares of the business services provider’s stock valued at $286,000 after purchasing an additional 5,669 shares in the last quarter. Hanseatic Management Services Inc. raised its stake in shares of Copart by 115.9% in the 2nd quarter. Hanseatic Management Services Inc. now owns 43,692 shares of the business services provider’s stock valued at $1,389,000 after purchasing an additional 23,457 shares in the last quarter. M&T Bank Corp raised its stake in shares of Copart by 90.4% in the 2nd quarter. M&T Bank Corp now owns 56,892 shares of the business services provider’s stock valued at $1,809,000 after purchasing an additional 27,012 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Copart by 105.9% in the 2nd quarter. California Public Employees Retirement System now owns 571,700 shares of the business services provider’s stock valued at $18,174,000 after purchasing an additional 294,100 shares in the last quarter. Finally, Bowie Capital Management LLC raised its stake in shares of Copart by 96.8% in the 2nd quarter. Bowie Capital Management LLC now owns 187,000 shares of the business services provider’s stock valued at $5,945,000 after purchasing an additional 92,000 shares in the last quarter. Institutional investors and hedge funds own 79.59% of the company’s stock.
Shares of Copart, Inc. (NASDAQ:CPRT) opened at 36.32 on Friday. The company’s 50 day moving average is $33.65 and its 200-day moving average is $33.59. Copart, Inc. has a 12 month low of $28.89 and a 12 month high of $63.14. The company has a market cap of $8.38 billion, a P/E ratio of 21.88 and a beta of 1.19.
Copart (NASDAQ:CPRT) last released its quarterly earnings data on Tuesday, September 19th. The business services provider reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.04. The company had revenue of $378.60 million during the quarter, compared to the consensus estimate of $355.42 million. Copart had a net margin of 27.23% and a return on equity of 31.83%. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period last year, the firm earned $0.31 EPS. Analysts expect that Copart, Inc. will post $1.43 EPS for the current fiscal year.
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A number of equities research analysts have recently issued reports on the stock. Jefferies Group LLC restated a “hold” rating and issued a $33.00 target price on shares of Copart in a research note on Thursday, July 6th. Robert W. Baird boosted their price objective on shares of Copart from $33.00 to $37.00 and gave the company an “outperform” rating in a research report on Thursday, September 21st. Zacks Investment Research downgraded shares of Copart from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, CJS Securities reaffirmed an “outperform” rating and set a $42.00 price objective on shares of Copart in a research report on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Copart has a consensus rating of “Hold” and an average target price of $37.33.
In other news, President Vincent W. Mitz sold 200,000 shares of the firm’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $34.32, for a total transaction of $6,864,000.00. Following the completion of the transaction, the president now directly owns 47,660 shares of the company’s stock, valued at approximately $1,635,691.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James E. Meeks sold 160,000 shares of the firm’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $34.33, for a total transaction of $5,492,800.00. Following the transaction, the director now directly owns 3,500 shares of the company’s stock, valued at $120,155. The disclosure for this sale can be found here. 17.00% of the stock is currently owned by company insiders.
Copart Company Profile
Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.
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