Marks Group Wealth Management Inc Decreases Stock Position in Copart, Inc. (NASDAQ:CPRT)

Marks Group Wealth Management Inc decreased its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 177,972 shares of the business services provider’s stock after selling 2,672 shares during the quarter. Copart comprises 1.0% of Marks Group Wealth Management Inc’s holdings, making the stock its 15th biggest position. Marks Group Wealth Management Inc’s holdings in Copart were worth $8,721,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CPRT. Vanguard Group Inc. raised its stake in shares of Copart by 100.6% during the 3rd quarter. Vanguard Group Inc. now owns 97,512,662 shares of the business services provider’s stock valued at $4,201,821,000 after buying an additional 48,891,984 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Copart by 96.8% in the third quarter. Principal Financial Group Inc. now owns 39,803,057 shares of the business services provider’s stock worth $1,715,114,000 after acquiring an additional 19,576,719 shares during the period. Wellington Management Group LLP boosted its stake in shares of Copart by 84.4% during the 3rd quarter. Wellington Management Group LLP now owns 17,929,180 shares of the business services provider’s stock worth $772,568,000 after acquiring an additional 8,205,757 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Copart by 79.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,359,152 shares of the business services provider’s stock valued at $748,006,000 after acquiring an additional 7,666,881 shares during the period. Finally, FMR LLC grew its holdings in Copart by 93.6% in the third quarter. FMR LLC now owns 14,733,860 shares of the business services provider’s stock valued at $634,882,000 after purchasing an additional 7,122,991 shares during the period. 85.78% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on CPRT. JPMorgan Chase & Co. raised their target price on Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. StockNews.com cut shares of Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $51.00.

Insider Buying and Selling

In other Copart news, Director Matt Blunt sold 100,000 shares of Copart 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 Securities & Exchange Commission, which can be accessed through the SEC website. In other Copart news, Chairman A Jayson Adair sold 600,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the transaction, the chairman now owns 19,687,980 shares of the company’s stock, valued at $1,137,374,604.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Matt Blunt sold 100,000 shares of Copart stock in a transaction dated Monday, February 26th. The stock was 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 sold 985,000 shares of company stock worth $55,519,950 over the last 90 days. 10.23% of the stock is owned by insiders.

Copart Stock Up 0.8 %

NASDAQ:CPRT traded up $0.42 on Monday, reaching $53.30. 3,307,096 shares of the company’s stock were exchanged, compared to its average volume of 4,622,308. The business has a fifty day moving average of $54.40 and a 200-day moving average of $50.21. Copart, Inc. has a 52-week low of $38.35 and a 52-week high of $58.58. The firm has a market capitalization of $51.25 billion, a price-to-earnings ratio of 38.35 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 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.02). Copart had a return on equity of 21.55% and a net margin of 33.41%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the firm earned $0.31 EPS. The business’s revenue was up 6.6% on a year-over-year basis. As a group, equities analysts anticipate that Copart, Inc. will post 1.42 earnings per share for the current year.

About Copart

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.