Copart, Inc. $CPRT Holdings Lifted by Rockland Trust Co.

Rockland Trust Co. raised its position in Copart, Inc. (NASDAQ:CPRT) by 10.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 542,015 shares of the business services provider’s stock after purchasing an additional 51,171 shares during the quarter. Rockland Trust Co. owned about 0.06% of Copart worth $21,220,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Cloud Capital Management LLC acquired a new position in shares of Copart during the third quarter worth approximately $25,000. Tripletail Wealth Management LLC acquired a new stake in Copart in the 3rd quarter valued at approximately $27,000. LRI Investments LLC increased its position in Copart by 125.2% in the 3rd quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 363 shares during the period. Cornerstone Planning Group LLC raised its stake in Copart by 54.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 256 shares in the last quarter. Finally, Aventura Private Wealth LLC bought a new stake in Copart during the 4th quarter valued at $33,000. Institutional investors own 85.78% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Jeffrey Liaw sold 25,137 shares of Copart stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the transaction, the chief executive officer directly owned 55,970 shares of the company’s stock, valued at $2,248,314.90. The trade was a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.60% of the stock is owned by corporate insiders.

Copart Price Performance

CPRT opened at $33.20 on Wednesday. The business has a 50 day moving average price of $37.08 and a two-hundred day moving average price of $40.06. The company has a market capitalization of $31.98 billion, a price-to-earnings ratio of 20.75 and a beta of 1.09. Copart, Inc. has a 1-year low of $32.20 and a 1-year high of $63.85.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results 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). Copart had a net margin of 33.76% and a return on equity of 16.68%. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business posted $0.40 earnings per share. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CPRT has been the subject of a number of analyst reports. Barclays reiterated an “underweight” rating and set a $32.00 price target (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. JPMorgan Chase & Co. cut their price objective on shares of Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Copart in a report on Monday, March 23rd. CJS Securities upgraded shares of Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Robert W. Baird set a $48.00 target price on shares of Copart and gave the company an “outperform” rating in a research note on Friday, February 20th. Two 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $44.40.

About Copart

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.