Center For Asset Management LLC Buys New Stake in Copart, Inc. (NASDAQ:CPRT)

Center For Asset Management LLC purchased a new stake in Copart, Inc. (NASDAQ:CPRT) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 4,721 shares of the business services provider’s stock, valued at approximately $271,000.

Several other hedge funds also recently added to or reduced their stakes in CPRT. Cadence Bank grew its holdings in Copart by 0.6% during the 3rd quarter. Cadence Bank now owns 31,549 shares of the business services provider’s stock valued at $1,653,000 after purchasing an additional 178 shares in the last quarter. Everpar Advisors LLC boosted its position in Copart by 4.3% in the 4th quarter. Everpar Advisors LLC now owns 4,811 shares of the business services provider’s stock valued at $276,000 after buying an additional 199 shares during the last quarter. Duncan Williams Asset Management LLC increased its position in shares of Copart by 1.3% during the third quarter. Duncan Williams Asset Management LLC now owns 15,437 shares of the business services provider’s stock worth $809,000 after acquiring an additional 203 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in shares of Copart by 2.3% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 9,226 shares of the business services provider’s stock worth $529,000 after acquiring an additional 208 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in Copart by 5.1% in the third quarter. Covestor Ltd now owns 4,299 shares of the business services provider’s stock valued at $225,000 after purchasing an additional 209 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Copart

In other Copart news, Director Daniel J. Englander sold 235,480 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.84, for a total value of $13,384,683.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 completion of the sale, the chairman now directly owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. This trade represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 650,213 shares of company stock worth $39,199,813 over the last 90 days. Insiders own 9.68% of the company’s stock.

Copart Stock Performance

Shares of Copart stock opened at $57.70 on Monday. The firm has a market cap of $55.60 billion, a PE ratio of 40.63 and a beta of 1.33. Copart, Inc. has a 1 year low of $47.73 and a 1 year high of $64.38. The firm’s 50-day simple moving average is $59.10 and its 200-day simple moving average is $54.83.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, hitting analysts’ consensus estimates of $0.37. Copart had a return on equity of 18.96% and a net margin of 31.92%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the business posted $0.34 EPS. Copart’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, equities analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

About Copart

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.