Copart, Inc. $CPRT Stake Raised by Duncan Williams Asset Management LLC

Duncan Williams Asset Management LLC grew its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 16.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 21,855 shares of the business services provider’s stock after purchasing an additional 3,074 shares during the period. Duncan Williams Asset Management LLC’s holdings in Copart were worth $1,072,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Knights of Columbus Asset Advisors LLC lifted its stake in Copart by 36.5% during the second quarter. Knights of Columbus Asset Advisors LLC now owns 16,977 shares of the business services provider’s stock valued at $833,000 after purchasing an additional 4,544 shares during the last quarter. DAVENPORT & Co LLC grew its position in Copart by 466.0% in the second quarter. DAVENPORT & Co LLC now owns 115,102 shares of the business services provider’s stock worth $5,648,000 after buying an additional 94,765 shares during the last quarter. Merit Financial Group LLC grew its position in Copart by 5.1% in the second quarter. Merit Financial Group LLC now owns 143,255 shares of the business services provider’s stock worth $7,030,000 after buying an additional 6,922 shares during the last quarter. Checchi Capital Advisers LLC increased its holdings in shares of Copart by 16.5% in the second quarter. Checchi Capital Advisers LLC now owns 7,351 shares of the business services provider’s stock valued at $361,000 after buying an additional 1,039 shares in the last quarter. Finally, LGT Fund Management Co Ltd. lifted its position in shares of Copart by 49.3% during the 2nd quarter. LGT Fund Management Co Ltd. now owns 57,604 shares of the business services provider’s stock valued at $2,827,000 after acquiring an additional 19,011 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Price Performance

Shares of NASDAQ:CPRT opened at $45.11 on Monday. The stock has a market capitalization of $43.65 billion, a P/E ratio of 28.19 and a beta of 1.03. The business has a 50-day moving average of $46.97 and a two-hundred day moving average of $51.61. Copart, Inc. has a fifty-two week low of $44.23 and a fifty-two week high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the business earned $0.33 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year. As a group, research analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, CEO Jeffrey Liaw sold 24,088 shares of the firm’s stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total value of $1,118,405.84. Following the transaction, the chief executive officer directly owned 31,527 shares in the company, valued at approximately $1,463,798.61. This trade represents a 43.31% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Thomas N. Tryforos sold 228,840 shares of Copart stock in a transaction on Monday, September 15th. The stock was sold at an average price of $47.54, for a total transaction of $10,879,053.60. The disclosure for this sale can be found here. Company insiders own 9.68% of the company’s stock.

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.