State of Wisconsin Investment Board Increases Stake in Copart, Inc. (CPRT)
State of Wisconsin Investment Board grew its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 388.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 194,471 shares of the business services provider’s stock after buying an additional 154,633 shares during the period. State of Wisconsin Investment Board’s holdings in Copart were worth $10,999,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in CPRT. Signaturefd LLC purchased a new stake in shares of Copart during the 1st quarter valued at $111,000. Cornerstone Advisors Inc. boosted its position in Copart by 88.5% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,972 shares of the business services provider’s stock worth $112,000 after purchasing an additional 926 shares during the period. CENTRAL TRUST Co boosted its position in Copart by 1,457.5% during the 2nd quarter. CENTRAL TRUST Co now owns 3,115 shares of the business services provider’s stock worth $176,000 after purchasing an additional 2,915 shares during the period. Eaton Vance Management purchased a new stake in Copart during the 1st quarter worth $216,000. Finally, Chevy Chase Trust Holdings Inc. purchased a new stake in Copart during the 2nd quarter worth $220,000. 80.28% of the stock is owned by institutional investors.
In other Copart news, CEO A Jayson Adair sold 200,000 shares of the business’s stock in a transaction on Monday, June 11th. The shares were sold at an average price of $57.47, for a total value of $11,494,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider William E. Franklin sold 90,000 shares of the business’s stock in a transaction on Thursday, July 12th. The stock was sold at an average price of $58.94, for a total transaction of $5,304,600.00. Following the completion of the transaction, the insider now owns 107,462 shares in the company, valued at approximately $6,333,810.28. The disclosure for this sale can be found here. Insiders sold a total of 640,000 shares of company stock worth $36,991,100 in the last quarter. 16.40% of the stock is currently owned by company insiders.
Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Wednesday, May 23rd. The business services provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. Copart had a net margin of 21.81% and a return on equity of 31.21%. The firm had revenue of $478.20 million for the quarter, compared to analyst estimates of $434.74 million. During the same quarter in the previous year, the business posted $0.38 EPS. sell-side analysts expect that Copart, Inc. will post 1.79 earnings per share for the current year.
A number of analysts recently weighed in on the stock. Gabelli reaffirmed a “hold” rating on shares of Copart in a research report on Friday, May 25th. BidaskClub raised shares of Copart from a “hold” rating to a “buy” rating in a research report on Tuesday, August 14th. Zacks Investment Research cut shares of Copart from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Barrington Research reaffirmed a “hold” rating on shares of Copart in a research report on Monday, May 28th. Finally, ValuEngine raised shares of Copart from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Copart currently has an average rating of “Buy” and an average price target of $51.38.
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 to vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as for individual owners.
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