Marks Group Wealth Management Inc lifted its stake in Copart, Inc. (NASDAQ:CPRT) by 0.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,482 shares of the business services provider’s stock after purchasing an additional 218 shares during the period. Copart comprises about 0.8% of Marks Group Wealth Management Inc’s investment portfolio, making the stock its 26th largest position. Marks Group Wealth Management Inc’s holdings in Copart were worth $6,123,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently bought and sold shares of the company. First National Bank of South Miami bought a new stake in Copart during the 2nd quarter valued at $26,000. CSat Investment Advisory L.P. raised its holdings in shares of Copart by 58.7% in the first quarter. CSat Investment Advisory L.P. now owns 327 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 121 shares in the last quarter. Wealthcare Advisory Partners LLC bought a new position in Copart during the 1st quarter worth about $38,000. Solstein Capital LLC purchased a new position in Copart during the 1st quarter valued at about $46,000. Finally, Certified Advisory Corp bought a new stake in shares of Copart in the 1st quarter valued at about $55,000. 81.28% of the stock is currently owned by institutional investors.
A number of equities analysts recently commented on the stock. Truist boosted their price objective on shares of Copart from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, September 10th. Zacks Investment Research cut Copart from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research note on Tuesday, August 31st. Barrington Research reiterated a “market perform” rating on shares of Copart in a research note on Wednesday, September 8th. Truist Securities raised their price target on shares of Copart from $145.00 to $160.00 and gave the company a “buy” rating in a report on Friday, September 10th. Finally, Robert W. Baird boosted their price objective on shares of Copart from $130.00 to $150.00 and gave the stock an “average” rating in a research note on Friday, September 10th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $143.83.
Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Tuesday, September 7th. The business services provider reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.12. Copart had a net margin of 34.78% and a return on equity of 28.62%. The company had revenue of $748.63 million for the quarter, compared to the consensus estimate of $686.93 million. During the same quarter in the prior year, the company earned $0.69 EPS. Copart’s quarterly revenue was up 42.4% on a year-over-year basis. Research analysts forecast that Copart, Inc. will post 3.92 earnings per share for the current fiscal year.
In related news, CEO Jeffrey Liaw sold 15,814 shares of Copart stock in a transaction dated Tuesday, July 6th. The stock was sold at an average price of $136.29, for a total value of $2,155,290.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO A Jayson Adair sold 300,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 29th. The shares were sold at an average price of $133.18, for a total value of $39,954,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 573,293 shares of company stock worth $77,786,349 over the last ninety days. 12.61% of the stock is owned by insiders.
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.
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