GC Wealth Management RIA LLC Takes $219,000 Position in Copart, Inc. $CPRT

GC Wealth Management RIA LLC purchased a new stake in Copart, Inc. (NASDAQ:CPRT) during the second quarter, Holdings Channel reports. The fund purchased 4,470 shares of the business services provider’s stock, valued at approximately $219,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Cloud Capital Management LLC purchased a new stake in Copart during the 1st quarter worth approximately $26,000. Atticus Wealth Management LLC acquired a new position in Copart during the 2nd quarter worth approximately $31,000. Accent Capital Management LLC acquired a new position in Copart during the 1st quarter worth approximately $36,000. Financial Network Wealth Advisors LLC grew its holdings in Copart by 152.6% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 783 shares of the business services provider’s stock worth $44,000 after acquiring an additional 473 shares in the last quarter. Finally, SouthState Corp acquired a new position in Copart during the 1st quarter worth approximately $45,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Stock Performance

Shares of Copart stock opened at $44.57 on Friday. The company has a market cap of $43.13 billion, a P/E ratio of 27.86 and a beta of 1.03. Copart, Inc. has a one year low of $44.23 and a one year high of $64.38. The firm has a fifty day moving average of $47.00 and a two-hundred day moving average of $51.69.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.14 billion. Copart had a net margin of 33.41% and a return on equity of 18.17%. Copart’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 EPS. As a group, equities analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Analyst Ratings Changes

CPRT has been the subject of several analyst reports. HSBC set a $62.00 price target on shares of Copart and gave the stock a “buy” rating in a report on Thursday, September 4th. Hsbc Global Res upgraded shares of Copart from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. Robert W. Baird lowered their price target on shares of Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, July 17th. Finally, Stephens lowered their price target on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $54.50.

Insiders Place Their Bets

In other Copart news, Director Thomas N. Tryforos sold 228,840 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $47.54, for a total transaction of $10,879,053.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey Liaw sold 24,088 shares of the stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the completion of the transaction, the chief executive officer owned 31,527 shares of the company’s stock, valued at $1,463,798.61. This represents a 43.31% decrease in their position. The disclosure for this sale can be found here. 9.68% of the stock is currently owned by corporate insiders.

Copart Company 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.