Copart, Inc. $CPRT Shares Purchased by Prescott Group Capital Management L.L.C.

Prescott Group Capital Management L.L.C. increased its holdings in Copart, Inc. (NASDAQ:CPRT) by 42.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,449 shares of the business services provider’s stock after purchasing an additional 2,231 shares during the quarter. Prescott Group Capital Management L.L.C.’s holdings in Copart were worth $366,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CPRT. Atticus Wealth Management LLC acquired a new stake in Copart in the second quarter valued at approximately $31,000. Ameritas Advisory Services LLC purchased a new position in shares of Copart during the 2nd quarter valued at approximately $31,000. Creekmur Asset Management LLC grew its stake in Copart by 1,063.0% in the 2nd quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 574 shares during the period. Accent Capital Management LLC purchased a new stake in Copart in the 1st quarter worth $36,000. Finally, Bank of Jackson Hole Trust increased its holdings in Copart by 83.8% in the 2nd quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock worth $36,000 after acquiring an additional 335 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Activity at Copart

In other news, Director Thomas N. Tryforos sold 228,840 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $47.54, for a total value of $10,879,053.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey Liaw sold 24,283 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total value of $1,087,635.57. Following the completion of the sale, the chief executive officer directly owned 31,332 shares of the company’s stock, valued at approximately $1,403,360.28. This represents a 43.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 9.60% of the company’s stock.

Wall Street Analysts Forecast Growth

CPRT has been the topic of several recent analyst reports. Robert W. Baird decreased their price objective 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. HSBC set a $62.00 price target on shares of Copart and gave the stock a “buy” rating in a research report on Thursday, September 4th. Hsbc Global Res raised shares of Copart from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. Finally, Stephens cut their price objective on Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a research note on Friday, September 5th. One investment 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.50.

Copart Stock Up 1.3%

Shares of NASDAQ CPRT opened at $40.51 on Friday. The firm has a 50-day simple moving average of $45.23 and a 200-day simple moving average of $49.25. The stock has a market capitalization of $39.21 billion, a price-to-earnings ratio of 25.32 and a beta of 1.06. Copart, Inc. has a 52 week low of $39.58 and a 52 week high of $64.38.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. Copart had a net margin of 33.41% and a return on equity of 18.17%. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the business posted $0.33 earnings per share. Copart’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, equities research analysts expect that Copart, Inc. will post 1.57 EPS 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.