Segment Wealth Management LLC Buys 3,493 Shares of Copart, Inc. $CPRT

Segment Wealth Management LLC boosted its stake in Copart, Inc. (NASDAQ:CPRT) by 8.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,511 shares of the business services provider’s stock after acquiring an additional 3,493 shares during the period. Segment Wealth Management LLC’s holdings in Copart were worth $2,233,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new stake in Copart in the first quarter valued at $26,000. Atticus Wealth Management LLC bought a new stake in Copart in the second quarter valued at $31,000. Ameritas Advisory Services LLC bought a new stake in Copart in the second quarter valued at $31,000. Accent Capital Management LLC bought a new stake in Copart in the first quarter valued at $36,000. Finally, Financial Network Wealth Advisors LLC boosted its holdings in Copart by 152.6% in the first quarter. Financial Network Wealth Advisors LLC now owns 783 shares of the business services provider’s stock valued at $44,000 after acquiring an additional 473 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

CPRT has been the topic of a number of research reports. HSBC set a $62.00 target price on shares of Copart and gave the company a “buy” rating in a report on Thursday, September 4th. Stephens dropped their target price on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a report on Friday, September 5th. Robert W. Baird dropped their target price on shares of Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, July 17th. Hsbc Global Res upgraded shares of Copart from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Copart in a report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Copart has a consensus rating of “Moderate Buy” and an average price target of $54.50.

Insider Activity

In other news, Director Thomas N. Tryforos sold 228,840 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $47.54, for a total transaction of $10,879,053.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey Liaw sold 24,088 shares of the company’s stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the sale, the chief executive officer directly owned 31,527 shares of the company’s stock, valued at $1,463,798.61. The trade was a 43.31% decrease in their position. The disclosure for this sale can be found here. 9.68% of the stock is owned by corporate insiders.

Copart Price Performance

Shares of Copart stock opened at $45.11 on Friday. The stock has a market cap of $43.65 billion, a price-to-earnings ratio of 28.19 and a beta of 1.03. The firm’s 50-day moving average is $46.97 and its 200 day moving average is $51.64. Copart, Inc. has a 1 year low of $44.23 and a 1 year high of $64.38.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. Copart had a return on equity of 18.17% and a net margin of 33.41%.The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the firm earned $0.33 EPS. Copart’s revenue was up 2.9% on a year-over-year basis. On average, equities analysts expect 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.