Axxcess Wealth Management LLC Reduces Stock Position in Copart, Inc. (NASDAQ:CPRT)

Axxcess Wealth Management LLC reduced its position in shares of Copart, Inc. (NASDAQ:CPRT) by 4.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,260 shares of the business services provider’s stock after selling 326 shares during the period. Axxcess Wealth Management LLC’s holdings in Copart were worth $356,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nordea Investment Management AB raised its holdings in Copart by 64.1% in the fourth quarter. Nordea Investment Management AB now owns 1,441,839 shares of the business services provider’s stock valued at $70,448,000 after buying an additional 563,233 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Copart by 1.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,848,048 shares of the business services provider’s stock valued at $139,554,000 after buying an additional 44,248 shares during the period. CHURCHILL MANAGEMENT Corp grew its position in Copart by 57.9% in the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 63,521 shares of the business services provider’s stock valued at $3,113,000 after acquiring an additional 23,304 shares in the last quarter. Artemis Investment Management LLP raised its stake in shares of Copart by 29.0% during the fourth quarter. Artemis Investment Management LLP now owns 1,167,186 shares of the business services provider’s stock valued at $57,193,000 after purchasing an additional 262,499 shares during the period. Finally, Checchi Capital Advisers LLC increased its stake in Copart by 72.5% during the 3rd quarter. Checchi Capital Advisers LLC now owns 6,228 shares of the business services provider’s stock worth $268,000 after buying an additional 2,618 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Price Performance

Shares of CPRT stock opened at $55.16 on Thursday. The stock’s fifty day simple moving average is $55.57 and its 200 day simple moving average is $50.98. Copart, Inc. has a one year low of $39.57 and a one year high of $58.58. The firm has a market cap of $53.04 billion, a price-to-earnings ratio of 39.68 and a beta of 1.22.

Copart (NASDAQ:CPRT) last released its quarterly 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). Copart had a net margin of 33.41% and a return on equity of 21.55%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the company earned $0.31 earnings per share. Copart’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, research analysts anticipate that Copart, Inc. will post 1.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CPRT. StockNews.com downgraded Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. lifted their price objective on shares of Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.00.

Insider Activity

In other news, Chairman A Jayson Adair sold 600,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $57.77, for a total value of $34,662,000.00. Following the completion of the sale, the chairman now directly owns 19,687,980 shares of the company’s stock, valued at approximately $1,137,374,604.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Chairman A Jayson Adair sold 600,000 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction, the director now directly owns 35,000 shares of the company’s stock, valued at $1,934,450. The disclosure for this sale can be found here. Insiders have sold a total of 985,000 shares of company stock valued at $55,519,950 in the last 90 days. 10.23% of the stock is owned by company insiders.

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.