Trueblood Wealth Management LLC Makes New $436,000 Investment in Copart, Inc. (NASDAQ:CPRT)

Trueblood Wealth Management LLC acquired a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 8,904 shares of the business services provider’s stock, valued at approximately $436,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Copart by 1,212.2% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,110 shares of the business services provider’s stock valued at $390,000 after acquiring an additional 2,873 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Copart by 14.6% during the 1st quarter. Panagora Asset Management Inc. now owns 8,456 shares of the business services provider’s stock valued at $1,061,000 after acquiring an additional 1,079 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in shares of Copart by 52.1% during the 1st quarter. Vontobel Holding Ltd. now owns 10,823 shares of the business services provider’s stock valued at $1,380,000 after acquiring an additional 3,707 shares during the last quarter. National Pension Service increased its holdings in shares of Copart by 5.0% during the 1st quarter. National Pension Service now owns 286,903 shares of the business services provider’s stock valued at $35,998,000 after acquiring an additional 13,666 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Copart by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 22,968,882 shares of the business services provider’s stock valued at $2,881,905,000 after acquiring an additional 270,867 shares during the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Copart news, Director Matt Blunt sold 100,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $51.06, for a total value of $5,106,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Matt Blunt sold 100,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $51.06, for a total value of $5,106,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas N. Tryforos sold 285,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total value of $15,751,950.00. Following the completion of the sale, the director now owns 35,000 shares in the company, valued at $1,934,450. The disclosure for this sale can be found here. Insiders sold a total of 705,000 shares of company stock valued at $35,910,750 over the last three months. Company insiders own 10.23% of the company’s stock.

Analyst Ratings Changes

CPRT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. initiated coverage on Copart in a report on Tuesday, February 27th. They issued a “neutral” rating and a $48.00 target price on the stock. StockNews.com lowered Copart from a “buy” rating to a “hold” rating in a report on Wednesday, February 21st. Finally, HSBC began coverage on Copart in a report on Monday, December 4th. They set a “hold” rating and a $51.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $50.00.

Copart Stock Up 1.2 %

CPRT traded up $0.68 during trading on Thursday, hitting $57.92. The company’s stock had a trading volume of 5,016,790 shares, compared to its average volume of 4,797,439. The firm’s 50 day moving average price is $52.13 and its two-hundred day moving average price is $48.65. Copart, Inc. has a 12 month low of $36.63 and a 12 month high of $58.15. The stock has a market capitalization of $55.69 billion, a price-to-earnings ratio of 41.67 and a beta of 1.22.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, February 22nd. The business services provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.02). The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. Copart had a net margin of 33.41% and a return on equity of 21.55%. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period last year, the business posted $0.31 earnings per share. On average, sell-side analysts forecast that Copart, Inc. will post 1.42 earnings per share for the current 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.