Forte Capital LLC ADV Invests $208,000 in Copart, Inc. (NASDAQ:CPRT)

Forte Capital LLC ADV purchased a new stake in shares of Copart, Inc. (NASDAQ:CPRT) during the 4th quarter, Holdings Channel reports. The fund purchased 4,240 shares of the business services provider’s stock, valued at approximately $208,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Savant Capital LLC raised its holdings in Copart by 3.8% during the 4th quarter. Savant Capital LLC now owns 6,933 shares of the business services provider’s stock valued at $340,000 after buying an additional 251 shares during the period. First Citizens Bank & Trust Co. increased its stake in Copart by 3.6% in the fourth quarter. First Citizens Bank & Trust Co. now owns 7,729 shares of the business services provider’s stock worth $379,000 after purchasing an additional 268 shares during the period. BSW Wealth Partners increased its stake in Copart by 4.1% in the fourth quarter. BSW Wealth Partners now owns 6,972 shares of the business services provider’s stock worth $342,000 after purchasing an additional 277 shares during the period. Manchester Capital Management LLC increased its stake in Copart by 101.0% in the third quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider’s stock worth $27,000 after purchasing an additional 314 shares during the period. Finally, Bell Investment Advisors Inc increased its stake in Copart by 87.1% in the third quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider’s stock worth $30,000 after purchasing an additional 323 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Trading Up 1.5 %

Shares of CPRT traded up $0.80 during midday trading on Friday, reaching $55.20. 5,285,026 shares of the stock were exchanged, compared to its average volume of 3,813,627. Copart, Inc. has a 52 week low of $39.06 and a 52 week high of $58.58. The company’s 50 day moving average is $55.40 and its two-hundred day moving average is $50.75. The company has a market capitalization of $53.07 billion, a P/E ratio of 39.71 and a beta of 1.22.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). Copart had a return on equity of 21.55% and a net margin of 33.41%. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the company posted $0.31 EPS. Copart’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, sell-side analysts expect that Copart, Inc. will post 1.42 EPS for the current year.

Insider Activity at Copart

In related news, Director Matt Blunt sold 100,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $51.06, for a total transaction of $5,106,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Thomas N. Tryforos sold 285,000 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the sale, the director now owns 35,000 shares of the company’s stock, valued at $1,934,450. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Matt Blunt sold 100,000 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $51.06, for a total value of $5,106,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 985,000 shares of company stock valued at $55,519,950 over the last quarter. 10.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. JPMorgan Chase & Co. increased their target price on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. StockNews.com lowered Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Copart has an average rating of “Hold” and a consensus price target of $51.00.

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.