Kestra Investment Management LLC Takes $333,000 Position in Copart, Inc. (NASDAQ:CPRT)

Kestra Investment Management LLC bought a new position in Copart, Inc. (NASDAQ:CPRT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,351 shares of the business services provider’s stock, valued at approximately $333,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CPRT. True Wealth Design LLC increased its stake in Copart by 1,737.1% in the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after purchasing an additional 608 shares in the last quarter. Edgestream Partners L.P. acquired a new position in shares of Copart in the third quarter worth about $761,000. Greenbrier Partners Capital Management LLC purchased a new position in shares of Copart in the third quarter worth approximately $11,335,000. Public Sector Pension Investment Board raised its holdings in shares of Copart by 12.9% during the third quarter. Public Sector Pension Investment Board now owns 39,340 shares of the business services provider’s stock valued at $2,061,000 after acquiring an additional 4,500 shares during the period. Finally, Financial Counselors Inc. lifted its position in shares of Copart by 4.1% in the 3rd quarter. Financial Counselors Inc. now owns 146,570 shares of the business services provider’s stock valued at $7,680,000 after acquiring an additional 5,769 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CPRT has been the topic of several research analyst reports. Robert W. Baird lowered their price objective on shares of Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research report on Thursday, September 5th. JPMorgan Chase & Co. lifted their price target on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th.

Copart Stock Performance

Copart stock opened at $62.02 on Tuesday. The firm’s 50 day moving average price is $55.06 and its two-hundred day moving average price is $53.49. The firm has a market cap of $59.76 billion, a PE ratio of 43.68 and a beta of 1.27. Copart, Inc. has a twelve month low of $46.21 and a twelve month high of $64.38.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Wednesday, September 4th. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). Copart had a return on equity of 18.96% and a net margin of 31.92%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the business posted $0.34 earnings per share. Copart’s revenue was up 7.2% on a year-over-year basis. Equities analysts anticipate that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Activity

In other news, Chairman A Jayson Adair sold 251,423 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the transaction, the chairman now owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. This represents a 1.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 9.68% of the stock is owned by corporate insiders.

Copart 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.