Spire Wealth Management Buys 17,734 Shares of Copart, Inc. (NASDAQ:CPRT)

Spire Wealth Management boosted its position in shares of Copart, Inc. (NASDAQ:CPRT) by 17.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 120,606 shares of the business services provider’s stock after purchasing an additional 17,734 shares during the period. Spire Wealth Management’s holdings in Copart were worth $5,874,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its position in shares of Copart by 122.5% during the third quarter. Commonwealth Equity Services LLC now owns 98,215 shares of the business services provider’s stock worth $4,232,000 after acquiring an additional 54,068 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of Copart by 139.9% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 40,690 shares of the business services provider’s stock worth $1,753,000 after acquiring an additional 23,726 shares during the last quarter. Raymond James & Associates raised its position in shares of Copart by 97.2% during the third quarter. Raymond James & Associates now owns 802,219 shares of the business services provider’s stock worth $34,568,000 after acquiring an additional 395,454 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Copart by 74.6% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 434,832 shares of the business services provider’s stock worth $18,737,000 after acquiring an additional 185,815 shares during the last quarter. Finally, Stratos Wealth Partners LTD. increased its holdings in Copart by 139.7% in the third quarter. Stratos Wealth Partners LTD. now owns 21,926 shares of the business services provider’s stock valued at $945,000 after purchasing an additional 12,777 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on CPRT shares. StockNews.com downgraded shares of Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. JPMorgan Chase & Co. upped their price target on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $51.00.

Insider Buying and Selling at Copart

In other Copart news, Director Thomas N. Tryforos sold 285,000 shares of Copart stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total value of $15,751,950.00. Following the completion of the sale, the director now directly owns 35,000 shares of the company’s stock, valued at $1,934,450. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Thomas N. Tryforos sold 285,000 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total value of $15,751,950.00. Following the completion of the sale, the director now directly owns 35,000 shares of the company’s stock, valued at approximately $1,934,450. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman A Jayson Adair sold 600,000 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the completion of the sale, the chairman now owns 19,687,980 shares of the company’s stock, valued at approximately $1,137,374,604.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 985,000 shares of company stock valued at $55,519,950. Corporate insiders own 10.23% of the company’s stock.

Copart Stock Performance

Shares of NASDAQ:CPRT traded up $0.54 during midday trading on Monday, hitting $55.74. 3,209,580 shares of the stock were exchanged, compared to its average volume of 4,525,176. The stock has a market capitalization of $53.59 billion, a price-to-earnings ratio of 39.71 and a beta of 1.22. The business’s 50-day moving average price is $55.40 and its 200 day moving average price is $50.79. Copart, Inc. has a 12 month low of $39.28 and a 12 month high of $58.58.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. Copart had a net margin of 33.41% and a return on equity of 21.55%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.31 EPS. As a group, sell-side analysts expect that Copart, Inc. will post 1.42 EPS for the current 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.