abrdn plc Grows Holdings in Copart, Inc. (NASDAQ:CPRT)

abrdn plc increased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 62.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 417,306 shares of the business services provider’s stock after purchasing an additional 159,844 shares during the quarter. abrdn plc’s holdings in Copart were worth $20,448,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in Copart in the third quarter valued at about $25,000. Manchester Capital Management LLC boosted its stake in Copart by 101.0% in the third quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 314 shares during the last quarter. Bell Investment Advisors Inc boosted its stake in Copart by 87.1% in the third quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider’s stock valued at $30,000 after acquiring an additional 323 shares during the last quarter. Annapolis Financial Services LLC boosted its stake in Copart by 100.0% in the third quarter. Annapolis Financial Services LLC now owns 720 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 360 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Copart by 100.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 800 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 400 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 news, Chairman A Jayson Adair sold 600,000 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value of $34,662,000.00. Following the transaction, the chairman now owns 19,687,980 shares of the company’s stock, valued at approximately $1,137,374,604.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Chairman A Jayson Adair sold 600,000 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value of $34,662,000.00. Following the transaction, the chairman now owns 19,687,980 shares of the company’s stock, valued at approximately $1,137,374,604.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas N. Tryforos sold 285,000 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the completion of the transaction, the director now directly owns 35,000 shares in the company, valued at approximately $1,934,450. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 985,000 shares of company stock valued at $55,519,950. Company insiders own 10.23% of the company’s stock.

Analysts Set New Price Targets

CPRT has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price target on shares of Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. StockNews.com cut shares of Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $51.00.

Copart Trading Up 1.9 %

Copart stock opened at $54.31 on Wednesday. The firm’s 50 day simple moving average is $54.50 and its 200 day simple moving average is $50.28. The firm has a market capitalization of $52.22 billion, a PE ratio of 39.07 and a beta of 1.22. Copart, Inc. has a 1-year low of $38.35 and a 1-year high of $58.58.

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

Copart Profile

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.