Raymond James & Associates Has $50.06 Million Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Raymond James & Associates lifted its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 8.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 864,337 shares of the business services provider’s stock after buying an additional 68,869 shares during the period. Raymond James & Associates’ holdings in Copart were worth $50,062,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. IFM Investors Pty Ltd boosted its position in shares of Copart by 1.5% during the 1st quarter. IFM Investors Pty Ltd now owns 166,079 shares of the business services provider’s stock worth $9,619,000 after acquiring an additional 2,461 shares in the last quarter. Marshall Financial Group LLC lifted its stake in Copart by 11.3% during the first quarter. Marshall Financial Group LLC now owns 28,847 shares of the business services provider’s stock worth $1,671,000 after purchasing an additional 2,935 shares during the last quarter. Retirement Guys Formula LLC acquired a new stake in shares of Copart in the 1st quarter valued at $1,291,000. First Trust Direct Indexing L.P. increased its stake in shares of Copart by 19.9% in the 1st quarter. First Trust Direct Indexing L.P. now owns 17,292 shares of the business services provider’s stock valued at $1,002,000 after purchasing an additional 2,871 shares during the last quarter. Finally, Fluent Financial LLC raised its holdings in shares of Copart by 8.3% during the 1st quarter. Fluent Financial LLC now owns 13,429 shares of the business services provider’s stock worth $778,000 after buying an additional 1,027 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. StockNews.com downgraded shares of Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $51.00.

Copart Price Performance

Shares of NASDAQ CPRT traded up $0.80 during mid-day trading on Friday, hitting $55.20. 5,285,026 shares of the stock traded hands, compared to its average volume of 3,813,627. Copart, Inc. has a twelve month low of $39.06 and a twelve month high of $58.58. The firm has a 50 day simple moving average of $55.40 and a two-hundred day simple moving average of $50.72. The company has a market cap of $53.07 billion, a PE ratio of 39.71 and a beta of 1.22.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). Copart had a net margin of 33.41% and a return on equity of 21.55%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the business earned $0.31 EPS. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, equities research analysts anticipate that Copart, Inc. will post 1.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Matt Blunt sold 100,000 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $51.06, for a total transaction of $5,106,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Copart news, Director Matt Blunt sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $51.06, for a total value of $5,106,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas N. Tryforos sold 285,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 35,000 shares of the company’s stock, valued at approximately $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 over the last 90 days. 10.23% of the stock is owned by 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.