Rowland & Co. Investment Counsel ADV Trims Stake in Copart, Inc. (CPRT)
Rowland & Co. Investment Counsel ADV cut its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 9.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,524 shares of the business services provider’s stock after selling 4,435 shares during the quarter. Rowland & Co. Investment Counsel ADV’s holdings in Copart were worth $2,516,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in CPRT. CSat Investment Advisory L.P. boosted its position in shares of Copart by 120.4% in the fourth quarter. CSat Investment Advisory L.P. now owns 518 shares of the business services provider’s stock worth $25,000 after buying an additional 283 shares during the period. Doyle Wealth Management acquired a new stake in shares of Copart in the fourth quarter worth $29,000. Lindbrook Capital LLC acquired a new stake in shares of Copart in the fourth quarter worth $41,000. First Personal Financial Services boosted its position in shares of Copart by 142.6% in the fourth quarter. First Personal Financial Services now owns 1,368 shares of the business services provider’s stock worth $65,000 after buying an additional 804 shares during the period. Finally, Legacy Advisors LLC acquired a new stake in shares of Copart in the first quarter worth $99,000. 85.26% of the stock is owned by institutional investors and hedge funds.
NASDAQ CPRT traded up $0.33 during trading on Wednesday, hitting $64.57. 110,004 shares of the company traded hands, compared to its average volume of 1,327,288. Copart, Inc. has a 12 month low of $44.61 and a 12 month high of $67.08. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.69 and a quick ratio of 1.61. The firm has a market cap of $14.66 billion, a P/E ratio of 37.43, a price-to-earnings-growth ratio of 1.49 and a beta of 0.95.
CPRT has been the subject of a number of research reports. BidaskClub raised Copart from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 15th. ValuEngine raised Copart from a “hold” rating to a “buy” rating in a research report on Monday, April 1st. Zacks Investment Research raised Copart from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Monday, March 11th. Barrington Research reissued a “hold” rating on shares of Copart in a research report on Tuesday, February 19th. Finally, SunTrust Banks lifted their price objective on Copart to $67.00 and gave the company a “buy” rating in a research report on Tuesday, February 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $59.25.
In other news, Director Daniel J. Englander sold 80,000 shares of Copart stock in a transaction dated Tuesday, January 15th. The stock was sold at an average price of $49.53, for a total value of $3,962,400.00. Following the transaction, the director now directly owns 555,128 shares in the company, valued at $27,495,489.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William E. Franklin sold 140,000 shares of Copart stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $58.44, for a total value of $8,181,600.00. Following the completion of the transaction, the executive vice president now owns 157,967 shares in the company, valued at $9,231,591.48. The disclosure for this sale can be found here. 15.99% of the stock is owned by company insiders.
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Copart Company 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.
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