Argos Wealth Advisors LLC Acquires Shares of 18,430 Copart, Inc. $CPRT

Argos Wealth Advisors LLC acquired a new stake in Copart, Inc. (NASDAQ:CPRT) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 18,430 shares of the business services provider’s stock, valued at approximately $722,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CPRT. AQR Capital Management LLC lifted its stake in Copart by 298.2% in the third quarter. AQR Capital Management LLC now owns 4,887,359 shares of the business services provider’s stock valued at $217,243,000 after buying an additional 3,660,031 shares during the last quarter. Van ECK Associates Corp lifted its stake in Copart by 2,266.7% in the third quarter. Van ECK Associates Corp now owns 3,689,003 shares of the business services provider’s stock valued at $165,895,000 after buying an additional 3,533,133 shares during the last quarter. Akre Capital Management LLC lifted its stake in Copart by 253.1% in the third quarter. Akre Capital Management LLC now owns 4,236,760 shares of the business services provider’s stock valued at $190,527,000 after buying an additional 3,036,760 shares during the last quarter. Vanguard Group Inc. lifted its stake in Copart by 2.4% in the third quarter. Vanguard Group Inc. now owns 108,990,652 shares of the business services provider’s stock valued at $4,901,310,000 after buying an additional 2,581,784 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in Copart by 395.6% in the third quarter. Marshall Wace LLP now owns 2,499,370 shares of the business services provider’s stock valued at $112,397,000 after buying an additional 1,995,074 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

NASDAQ:CPRT opened at $33.44 on Wednesday. The stock has a fifty day moving average price of $33.96 and a two-hundred day moving average price of $37.75. The stock has a market capitalization of $32.21 billion, a price-to-earnings ratio of 20.90 and a beta of 1.02. Copart, Inc. has a 1 year low of $32.20 and a 1 year high of $63.85.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, February 19th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.03). The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Copart had a return on equity of 16.68% and a net margin of 33.76%.The company’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS. On average, analysts predict that Copart, Inc. will post 1.58 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on CPRT. Robert W. Baird set a $48.00 price objective on Copart and gave the company an “outperform” rating in a research note on Friday, February 20th. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Weiss Ratings lowered Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. JPMorgan Chase & Co. dropped their target price on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Finally, Barclays reissued an “underweight” rating and issued a $32.00 target price (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $44.40.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total value of $869,747.34. Following the completion of the transaction, the chief executive officer owned 79,532 shares in the company, valued at approximately $2,638,871.76. This represents a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.