Copart, Inc. (NASDAQ:CPRT) Shares Purchased by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc boosted its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 189,703 shares of the business services provider’s stock after buying an additional 2,209 shares during the quarter. Copart accounts for approximately 1.1% of Marks Group Wealth Management Inc’s portfolio, making the stock its 15th largest holding. Marks Group Wealth Management Inc’s holdings in Copart were worth $10,887,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Davidson Capital Management Inc. lifted its holdings in shares of Copart by 4.3% in the fourth quarter. Davidson Capital Management Inc. now owns 61,861 shares of the business services provider’s stock valued at $3,550,000 after purchasing an additional 2,523 shares in the last quarter. Certuity LLC raised its position in shares of Copart by 6.4% during the 4th quarter. Certuity LLC now owns 19,877 shares of the business services provider’s stock worth $1,141,000 after purchasing an additional 1,202 shares during the last quarter. Sovran Advisors LLC acquired a new stake in Copart during the 4th quarter valued at $773,000. McBroom & Associates LLC lifted its position in shares of Copart by 1.6% in the fourth quarter. McBroom & Associates LLC now owns 155,045 shares of the business services provider’s stock valued at $8,898,000 after acquiring an additional 2,450 shares in the last quarter. Finally, Panoramic Capital Partners LLC acquired a new position in Copart in the 4th quarter valued at about $484,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Copart news, Director Diane M. Morefield sold 30,000 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the sale, the director now directly owns 20,000 shares of the company’s stock, valued at $1,160,200. The trade was a 60.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas N. Tryforos sold 83,310 shares of Copart stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $61.86, for a total value of $5,153,556.60. Following the transaction, the director now directly owns 7,850 shares in the company, valued at approximately $485,601. This trade represents a 91.39 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 650,213 shares of company stock worth $39,199,813. Corporate insiders own 9.68% of the company’s stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. increased their price target on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th.

Copart Stock Up 1.0 %

CPRT stock opened at $59.23 on Wednesday. The stock has a market cap of $57.07 billion, a PE ratio of 41.71 and a beta of 1.33. The firm’s 50-day simple moving average is $58.46 and its 200 day simple moving average is $55.29. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.37. Copart had a net margin of 31.92% and a return on equity of 18.96%. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the business earned $0.34 earnings per share. The company’s revenue was up 12.4% on a year-over-year basis. Equities analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

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.