Wealth Enhancement Advisory Services LLC Acquires 8,982 Shares of Copart, Inc. (NASDAQ:CPRT)

Wealth Enhancement Advisory Services LLC raised its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 10.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 96,595 shares of the business services provider’s stock after acquiring an additional 8,982 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Copart were worth $5,466,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CPRT. Sandy Spring Bank raised its position in shares of Copart by 59.5% during the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 176 shares during the last quarter. Sunbelt Securities Inc. bought a new stake in shares of Copart during the 4th quarter valued at $31,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Copart during the 4th quarter valued at $45,000. Versant Capital Management Inc increased its position in shares of Copart by 1,567.9% in the 1st quarter. Versant Capital Management Inc now owns 884 shares of the business services provider’s stock valued at $50,000 after buying an additional 831 shares in the last quarter. Finally, Curio Wealth LLC bought a new stake in shares of Copart in the 4th quarter valued at $52,000. Institutional investors own 85.78% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on CPRT shares. JPMorgan Chase & Co. lowered their price objective on shares of Copart from $60.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, May 23rd. Argus cut shares of Copart from a “buy” rating to a “hold” rating in a research report on Friday, March 14th.

Copart Stock Down 1.0%

CPRT opened at $48.14 on Thursday. Copart, Inc. has a 12 month low of $47.33 and a 12 month high of $64.38. The company has a fifty day simple moving average of $55.88 and a 200 day simple moving average of $56.70. The stock has a market cap of $46.55 billion, a P/E ratio of 31.67 and a beta of 1.10.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.23 billion. Copart had a net margin of 32.21% and a return on equity of 18.20%. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.39 EPS. On average, equities research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Steven D. Cohan sold 94,997 shares of the company’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $60.01, for a total value of $5,700,769.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 9.68% of the company’s stock.

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.