Strategic Financial Concepts LLC Invests $8.56 Million in Copart, Inc. (NASDAQ:CPRT)

Strategic Financial Concepts LLC bought a new stake in Copart, Inc. (NASDAQ:CPRT) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 149,214 shares of the business services provider’s stock, valued at approximately $8,563,000.

A number of other institutional investors have also added to or reduced their stakes in CPRT. Cadence Bank grew its position in shares of Copart by 0.6% in the 3rd quarter. Cadence Bank now owns 31,549 shares of the business services provider’s stock valued at $1,653,000 after acquiring an additional 178 shares during the period. Everpar Advisors LLC grew its holdings in Copart by 4.3% during the fourth quarter. Everpar Advisors LLC now owns 4,811 shares of the business services provider’s stock worth $276,000 after purchasing an additional 199 shares during the period. Fifth Third Wealth Advisors LLC grew its holdings in Copart by 2.3% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 9,226 shares of the business services provider’s stock worth $529,000 after purchasing an additional 208 shares during the period. Covestor Ltd increased its position in Copart by 5.1% during the third quarter. Covestor Ltd now owns 4,299 shares of the business services provider’s stock worth $225,000 after buying an additional 209 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its stake in Copart by 0.8% in the third quarter. B. Riley Wealth Advisors Inc. now owns 27,631 shares of the business services provider’s stock valued at $1,447,000 after buying an additional 213 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Copart news, Chairman A Jayson Adair sold 251,423 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were 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 in the company, valued at $920,907,971.03. This represents a 1.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas N. Tryforos sold 83,310 shares of Copart stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $61.86, for a total transaction of $5,153,556.60. Following the completion of the sale, the director now owns 7,850 shares of the company’s stock, valued at approximately $485,601. The trade was a 91.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 650,213 shares of company stock valued at $39,199,813. Insiders own 9.68% of the company’s stock.

Copart Price Performance

Shares of CPRT opened at $59.39 on Friday. The company’s 50-day moving average is $58.29 and its 200-day moving average is $55.43. The firm has a market capitalization of $57.22 billion, a PE ratio of 41.82 and a beta of 1.33. Copart, Inc. has a fifty-two week low of $48.05 and a fifty-two week high of $64.38.

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

Analysts Set New Price Targets

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

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.