Copart, Inc. $CPRT Shares Sold by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc lessened its stake in Copart, Inc. (NASDAQ:CPRT) by 14.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 153,577 shares of the business services provider’s stock after selling 25,476 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Copart were worth $6,013,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CPRT. Beddow Capital Management Inc. increased its stake in shares of Copart by 44.4% in the 4th quarter. Beddow Capital Management Inc. now owns 94,590 shares of the business services provider’s stock valued at $3,703,000 after purchasing an additional 29,105 shares in the last quarter. Claret Asset Management Corp increased its stake in shares of Copart by 5.1% in the 4th quarter. Claret Asset Management Corp now owns 6,830 shares of the business services provider’s stock valued at $267,000 after purchasing an additional 329 shares in the last quarter. CenterBook Partners LP increased its stake in shares of Copart by 146.8% in the 4th quarter. CenterBook Partners LP now owns 53,144 shares of the business services provider’s stock valued at $2,081,000 after purchasing an additional 31,615 shares in the last quarter. Fiera Capital Corp increased its stake in shares of Copart by 0.6% in the 4th quarter. Fiera Capital Corp now owns 8,829,434 shares of the business services provider’s stock valued at $345,672,000 after purchasing an additional 52,036 shares in the last quarter. Finally, Syon Capital LLC increased its stake in shares of Copart by 23.9% in the 4th quarter. Syon Capital LLC now owns 8,368 shares of the business services provider’s stock valued at $328,000 after purchasing an additional 1,613 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Price Performance

Shares of Copart stock opened at $30.86 on Tuesday. The business has a 50 day simple moving average of $32.99 and a two-hundred day simple moving average of $36.45. Copart, Inc. has a 12 month low of $29.97 and a 12 month high of $50.91. The stock has a market capitalization of $28.57 billion, a P/E ratio of 19.17 and a beta of 1.01.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. Copart had a return on equity of 16.63% and a net margin of 33.48%.The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the firm earned $0.42 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. As a group, research analysts anticipate that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CPRT. Barclays restated an “underweight” rating and issued a $32.00 price target (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. JPMorgan Chase & Co. cut their price target on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Robert W. Baird set a $48.00 price target on Copart and gave the company an “outperform” rating in a research note on Friday, February 20th. Weiss Ratings lowered Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Finally, Jefferies Financial Group set a $45.00 price target on Copart in a research note on Friday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $44.50.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 26,213 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the completion of the sale, the chief executive officer directly owned 79,532 shares in the company, valued at approximately $2,638,871.76. The trade was a 24.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.60% of the company’s stock.

Copart Profile

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.