Parametric Portfolio Associates LLC grew its position in shares of Copart, Inc. (NASDAQ:CPRT) by 58.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 336,856 shares of the business services provider’s stock after purchasing an additional 124,105 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.15% of Copart worth $10,709,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of CPRT. Winslow Evans & Crocker Inc. purchased a new position in Copart in the second quarter worth about $100,000. BlueCrest Capital Management Ltd purchased a new position in Copart in the first quarter worth about $254,000. Parallel Advisors LLC grew its position in Copart by 2.6% in the second quarter. Parallel Advisors LLC now owns 4,451 shares of the business services provider’s stock worth $140,000 after acquiring an additional 111 shares in the last quarter. Smithfield Trust Co. grew its position in Copart by 104.8% in the second quarter. Smithfield Trust Co. now owns 5,371 shares of the business services provider’s stock worth $171,000 after acquiring an additional 2,749 shares in the last quarter. Finally, M Holdings Securities Inc. purchased a new position in Copart in the first quarter worth about $339,000. Hedge funds and other institutional investors own 79.59% of the company’s stock.
In other news, Director James E. Meeks sold 160,000 shares of the stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $34.33, for a total value of $5,492,800.00. Following the completion of the sale, the director now owns 3,500 shares of the company’s stock, valued at approximately $120,155. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Vincent W. Mitz sold 200,000 shares of the stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $34.32, for a total transaction of $6,864,000.00. Following the completion of the sale, the president now directly owns 47,660 shares of the company’s stock, valued at approximately $1,635,691.20. The disclosure for this sale can be found here. Corporate insiders own 17.00% of the company’s stock.
Copart, Inc. (NASDAQ CPRT) opened at 36.11 on Friday. The stock has a market cap of $8.33 billion, a price-to-earnings ratio of 21.75 and a beta of 1.19. Copart, Inc. has a 12 month low of $25.37 and a 12 month high of $36.24. The firm’s 50 day moving average price is $33.47 and its 200 day moving average price is $33.98.
Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Tuesday, September 19th. The business services provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.04. Copart had a net margin of 27.23% and a return on equity of 31.83%. The business had revenue of $378.60 million during the quarter, compared to analysts’ expectations of $355.42 million. During the same quarter in the prior year, the company posted $0.31 EPS. The business’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, equities research analysts predict that Copart, Inc. will post $1.43 EPS for the current fiscal year.
Several research firms recently commented on CPRT. CJS Securities reiterated an “outperform” rating and issued a $42.00 price target on shares of Copart in a research report on Thursday, October 5th. Robert W. Baird lifted their price target on Copart from $33.00 to $37.00 and gave the stock an “outperform” rating in a research report on Thursday, September 21st. Zacks Investment Research lowered Copart from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $33.00 price target on shares of Copart in a research report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Copart has an average rating of “Hold” and an average price target of $37.33.
Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.
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