US Bancorp DE reduced its position in shares of Copart, Inc. (NASDAQ:CPRT) by 4.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 2,770,261 shares of the business services provider’s stock after selling 125,987 shares during the quarter. US Bancorp DE’s holdings in Copart were worth $156,686,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CPRT. Signaturefd LLC bought a new position in shares of Copart during the 1st quarter valued at approximately $111,000. Cornerstone Advisors Inc. boosted its position in shares of Copart by 88.5% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,972 shares of the business services provider’s stock valued at $112,000 after acquiring an additional 926 shares during the last quarter. Financial Architects Inc boosted its position in shares of Copart by 211.7% during the 2nd quarter. Financial Architects Inc now owns 2,668 shares of the business services provider’s stock valued at $151,000 after acquiring an additional 1,812 shares during the last quarter. CENTRAL TRUST Co boosted its position in shares of Copart by 1,457.5% during the 2nd quarter. CENTRAL TRUST Co now owns 3,115 shares of the business services provider’s stock valued at $176,000 after acquiring an additional 2,915 shares during the last quarter. Finally, Pinnacle Associates Ltd. bought a new position in shares of Copart during the 2nd quarter valued at approximately $215,000. Hedge funds and other institutional investors own 80.28% of the company’s stock.
In related news, insider William E. Franklin sold 100,000 shares of the stock in a transaction on Monday, June 11th. The stock was sold at an average price of $57.52, for a total transaction of $5,752,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO A Jayson Adair sold 200,000 shares of the stock in a transaction on Monday, June 11th. The shares were sold at an average price of $57.47, for a total value of $11,494,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 640,000 shares of company stock worth $36,991,100 in the last 90 days. 16.40% of the stock is currently owned by insiders.
CPRT has been the subject of a number of research reports. Zacks Investment Research upgraded Copart from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Tuesday, July 17th. ValuEngine upgraded Copart from a “hold” rating to a “buy” rating in a research report on Saturday, May 12th. BidaskClub downgraded Copart from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 23rd. Stephens downgraded Copart from an “overweight” rating to an “equal weight” rating in a research report on Friday, May 18th. Finally, Barrington Research reiterated a “hold” rating on shares of Copart in a research report on Tuesday, May 22nd. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Copart has a consensus rating of “Buy” and an average price target of $51.38.
NASDAQ:CPRT opened at $61.33 on Monday. Copart, Inc. has a fifty-two week low of $31.14 and a fifty-two week high of $61.10. The firm has a market cap of $13.99 billion, a P/E ratio of 47.54, a P/E/G ratio of 1.22 and a beta of 0.92. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.27 and a current ratio of 2.33.
Copart (NASDAQ:CPRT) last released its quarterly earnings results on Wednesday, May 23rd. The business services provider reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.02. Copart had a return on equity of 31.21% and a net margin of 21.81%. The company had revenue of $478.20 million for the quarter, compared to analyst estimates of $434.74 million. During the same quarter in the prior year, the firm posted $0.38 EPS. sell-side analysts forecast that Copart, Inc. will post 1.79 EPS for the current year.
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 to vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as for individual owners.
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