Hantz Financial Services Inc. Sells 212,701 Shares of Copart, Inc. $CPRT

Hantz Financial Services Inc. reduced its position in Copart, Inc. (NASDAQ:CPRT) by 63.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 124,077 shares of the business services provider’s stock after selling 212,701 shares during the period. Hantz Financial Services Inc.’s holdings in Copart were worth $6,088,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GC Wealth Management RIA LLC bought a new stake in Copart in the 2nd quarter valued at about $219,000. China Universal Asset Management Co. Ltd. raised its stake in Copart by 52.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 23,862 shares of the business services provider’s stock valued at $1,350,000 after acquiring an additional 8,181 shares during the period. Nordea Investment Management AB raised its stake in Copart by 3.5% in the 2nd quarter. Nordea Investment Management AB now owns 753,973 shares of the business services provider’s stock valued at $36,153,000 after acquiring an additional 25,564 shares during the period. Private Trust Co. NA increased its position in shares of Copart by 16.5% during the first quarter. Private Trust Co. NA now owns 4,142 shares of the business services provider’s stock valued at $234,000 after buying an additional 586 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Copart by 15.9% during the first quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider’s stock valued at $868,417,000 after buying an additional 2,106,656 shares during the period. 85.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CPRT shares. HSBC set a $62.00 price target on shares of Copart and gave the stock a “buy” rating in a report on Thursday, September 4th. Hsbc Global Res raised shares of Copart from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. Robert W. Baird lowered their price target 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. Finally, Stephens lowered their price target 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. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.50.

Insider Activity at Copart

In related news, Director Thomas N. Tryforos sold 228,840 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $47.54, for a total value of $10,879,053.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey Liaw sold 24,283 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the completion of the transaction, the chief executive officer owned 31,332 shares in the company, valued at approximately $1,403,360.28. This trade represents a 43.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 9.68% of the stock is currently owned by corporate insiders.

Copart Trading Down 0.0%

CPRT stock opened at $42.48 on Friday. The company’s 50 day moving average is $46.05 and its 200 day moving average is $50.07. The stock has a market cap of $41.11 billion, a price-to-earnings ratio of 26.55 and a beta of 1.03. Copart, Inc. has a 1-year low of $42.26 and a 1-year high of $64.38.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.04. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Copart had a net margin of 33.41% and a return on equity of 18.17%. Copart’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.33 earnings per share. As a group, sell-side analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal 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.