Integrated Wealth Concepts LLC Increases Stake in Copart, Inc. $CPRT

Integrated Wealth Concepts LLC raised its holdings in Copart, Inc. (NASDAQ:CPRT) by 46.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 513,401 shares of the business services provider’s stock after buying an additional 163,280 shares during the period. Integrated Wealth Concepts LLC’s holdings in Copart were worth $14,473,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CPRT. C M Bidwell & Associates Ltd. purchased a new stake in shares of Copart during the second quarter worth $25,000. Versant Capital Management Inc raised its stake in shares of Copart by 110.9% in the second quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 498 shares in the last quarter. Cache Advisors LLC purchased a new position in Copart in the first quarter valued at $31,000. Compass Financial Management LLC acquired a new position in Copart during the 2nd quarter worth $33,000. Finally, Reflection Asset Management acquired a new stake in Copart in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CPRT. Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a report on Monday. Barclays set a $25.00 price target on Copart and gave the company an “underweight” rating in a research report on Wednesday, August 26th. Freedom Capital raised Copart to a “strong-buy” rating in a research note on Friday, June 26th. Jefferies Financial Group set a $45.00 price objective on Copart in a research report on Friday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft set a $40.00 target price on Copart in a research note on Thursday, September 3rd. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $38.83.

Insider Buying and Selling at Copart

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

Copart Trading Down 1.7%

Shares of CPRT opened at $32.03 on Thursday. Copart, Inc. has a twelve month low of $26.81 and a twelve month high of $49.05. The stock’s 50 day moving average is $30.34 and its two-hundred day moving average is $32.12. The firm has a market capitalization of $29.65 billion, a PE ratio of 19.89, a P/E/G ratio of 1.56 and a beta of 1.03.

About Copart

Copart, Inc (NASDAQ: CPRT) provides online vehicle auction and remarketing services. The company operates a global marketplace where damaged, recovered, used and other vehicles are sold primarily through online auctions. Its offerings include salvage and clean-title vehicles, with inventory sourced from insurance companies, banks, dealerships, fleet operators, rental companies, government agencies and other organizations.

Copart supports the vehicle remarketing process through inspection, storage, transportation, title processing and auction services.