78,852 Copart, Inc. $CPRT Shares Purchased by Rockland Trust Co.

Rockland Trust Co. lifted its stake in Copart, Inc. (NASDAQ:CPRT) by 11.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 794,114 shares of the business services provider’s stock after purchasing an additional 78,852 shares during the period. Rockland Trust Co.’s holdings in Copart were worth $21,663,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CPRT. Reflection Asset Management purchased a new position in Copart during the fourth quarter valued at $34,000. C M Bidwell & Associates Ltd. purchased a new stake in Copart in the second quarter worth about $25,000. Cache Advisors LLC bought a new position in shares of Copart in the first quarter worth about $31,000. Versant Capital Management Inc raised its stake in shares of Copart by 110.9% in the second quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock worth $27,000 after buying an additional 498 shares during the period. Finally, Cherry Tree Wealth Management LLC lifted its position in shares of Copart by 14,062.5% during the 2nd quarter. Cherry Tree Wealth Management LLC now owns 1,133 shares of the business services provider’s stock valued at $32,000 after buying an additional 1,125 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

Copart Stock Performance

Shares of CPRT traded up $0.38 during midday trading on Monday, hitting $27.59. 2,670,268 shares of the company traded hands, compared to its average volume of 10,169,341. The firm has a 50 day moving average of $30.61 and a 200-day moving average of $31.22. Copart, Inc. has a 52 week low of $26.74 and a 52 week high of $45.89. The stock has a market cap of $25.56 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 1.32 and a beta of 1.06.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, September 10th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.03). The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. Copart had a return on equity of 15.93% and a net margin of 31.81%.The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the firm posted $0.41 earnings per share. Sell-side analysts predict that Copart, Inc. will post 1.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Robert W. Baird reduced their target price on shares of Copart from $42.00 to $38.00 and set an “outperform” rating for the company in a report on Friday, September 11th. Deutsche Bank Aktiengesellschaft set a $40.00 price target on shares of Copart in a report on Thursday, September 3rd. HSBC lowered shares of Copart from a “buy” rating to a “hold” rating and set a $36.00 price target for the company. in a research report on Wednesday, September 16th. Barclays set a $25.00 price objective on shares of Copart and gave the stock an “underweight” rating in a research note on Wednesday, August 26th. Finally, Freedom Broker decreased their price objective on shares of Copart from $39.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, September 14th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.80.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total transaction of $845,945.05. Following the completion of the transaction, the chief executive officer owned 99,641 shares in the company, valued at $3,038,054.09. This trade represents a 21.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 9.60% of the company’s stock.

Copart Company Profile

Copart, Inc is a global provider of online vehicle auction and remarketing services. The company primarily sells vehicles that have been damaged, totaled, recovered from theft, or otherwise deemed uneconomical to repair. Its customers include insurance companies, automobile dealers, dismantlers, rebuilders, exporters, rental and finance companies, and members of the general public.

Copart conducts auctions through its online VB3 platform, which connects buyers with vehicles listed at the company’s facilities.