Raymond James & Associates Increases Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Raymond James & Associates boosted its holdings in Copart, Inc. (NASDAQ:CPRT) by 8.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 864,337 shares of the business services provider’s stock after acquiring an additional 68,869 shares during the period. Raymond James & Associates owned 0.09% of Copart worth $50,062,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its stake in shares of Copart by 122.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 98,215 shares of the business services provider’s stock worth $4,232,000 after purchasing an additional 54,068 shares during the last quarter. SVB Wealth LLC grew its position in shares of Copart by 96.6% in the third quarter. SVB Wealth LLC now owns 10,912 shares of the business services provider’s stock valued at $470,000 after purchasing an additional 5,362 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in Copart by 139.9% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 40,690 shares of the business services provider’s stock worth $1,753,000 after buying an additional 23,726 shares during the period. Pinnacle Associates Ltd. boosted its stake in Copart by 100.9% in the 3rd quarter. Pinnacle Associates Ltd. now owns 12,436 shares of the business services provider’s stock worth $536,000 after buying an additional 6,247 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in Copart by 74.6% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 434,832 shares of the business services provider’s stock valued at $18,737,000 after buying an additional 185,815 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Price Performance

NASDAQ CPRT traded up $0.80 during trading hours on Friday, hitting $55.20. The company had a trading volume of 5,285,026 shares, compared to its average volume of 3,813,627. The firm’s 50 day moving average is $55.40 and its 200 day moving average is $50.72. The company has a market capitalization of $53.07 billion, a price-to-earnings ratio of 39.71 and a beta of 1.22. Copart, Inc. has a fifty-two week low of $39.06 and a fifty-two week high of $58.58.

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

Insiders Place Their Bets

In other Copart news, Chairman A Jayson Adair sold 600,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chairman now owns 19,687,980 shares in the company, valued at approximately $1,137,374,604.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Chairman A Jayson Adair sold 600,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value of $34,662,000.00. Following the sale, the chairman now owns 19,687,980 shares in the company, valued at approximately $1,137,374,604.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thomas N. Tryforos sold 285,000 shares of Copart stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total value of $15,751,950.00. Following the completion of the transaction, the director now owns 35,000 shares of the company’s stock, valued at $1,934,450. The disclosure for this sale can be found here. Insiders have sold 985,000 shares of company stock worth $55,519,950 in the last quarter. 10.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CPRT has been the subject of a number of recent analyst reports. StockNews.com downgraded shares of Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. JPMorgan Chase & Co. upped their price target on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Copart has a consensus rating of “Hold” and an average target price of $51.00.

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.