Wealth Enhancement Advisory Services LLC Sells 301,544 Shares of Copart, Inc. $CPRT

Wealth Enhancement Advisory Services LLC lessened its holdings in Copart, Inc. (NASDAQ:CPRT) by 64.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 169,348 shares of the business services provider’s stock after selling 301,544 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Copart were worth $7,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Amalgamated Bank boosted its holdings in shares of Copart by 2.0% in the 3rd quarter. Amalgamated Bank now owns 202,658 shares of the business services provider’s stock worth $9,114,000 after buying an additional 3,929 shares during the last quarter. Sierra Legacy Group increased its holdings in Copart by 10.7% during the third quarter. Sierra Legacy Group now owns 13,615 shares of the business services provider’s stock worth $612,000 after buying an additional 1,320 shares during the last quarter. Resonant Capital Advisors LLC raised its position in Copart by 1.3% in the third quarter. Resonant Capital Advisors LLC now owns 24,881 shares of the business services provider’s stock worth $1,119,000 after acquiring an additional 330 shares during the period. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Copart by 219.1% in the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 10,835 shares of the business services provider’s stock valued at $486,000 after acquiring an additional 7,440 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in Copart by 4.8% in the third quarter. Sequoia Financial Advisors LLC now owns 26,546 shares of the business services provider’s stock valued at $1,194,000 after acquiring an additional 1,215 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CPRT has been the subject of several research analyst reports. Barclays restated an “underweight” rating and set a $33.00 price target (up previously from $32.00) on shares of Copart in a research note on Friday, November 21st. JPMorgan Chase & Co. decreased their target price on Copart from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Monday, November 24th. Robert W. Baird lowered their target price on Copart from $55.00 to $52.00 and set an “outperform” rating on the stock in a research note on Friday, November 21st. CJS Securities upgraded Copart to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Copart currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.60.

Insider Activity

In other news, CEO Jeffrey Liaw sold 25,137 shares of the stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $40.17, for a total value of $1,009,753.29. Following the sale, the chief executive officer directly owned 55,970 shares of the company’s stock, valued at approximately $2,248,314.90. This represents a 30.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas N. Tryforos sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total transaction of $3,907,000.00. The disclosure for this sale is available in the SEC filing. Corporate insiders own 9.60% of the company’s stock.

Copart Price Performance

Copart stock opened at $41.40 on Friday. Copart, Inc. has a one year low of $37.41 and a one year high of $63.85. The business has a fifty day moving average price of $39.53 and a 200-day moving average price of $43.57. The firm has a market capitalization of $40.08 billion, a P/E ratio of 25.24 and a beta of 1.10.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, November 20th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.18 billion. Copart had a return on equity of 17.78% and a net margin of 34.24%.The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.37 EPS. Sell-side analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Copart Profile

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.