Benjamin F. Edwards & Company Inc. Buys 16,880 Shares of Copart, Inc. (NASDAQ:CPRT)

Benjamin F. Edwards & Company Inc. increased its stake in Copart, Inc. (NASDAQ:CPRT) by 1,047.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,491 shares of the business services provider’s stock after acquiring an additional 16,880 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Copart were worth $906,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. OFI Invest Asset Management bought a new position in shares of Copart during the third quarter valued at about $25,000. Manchester Capital Management LLC raised its position in Copart by 101.0% during the 3rd quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 314 shares during the last quarter. Bell Investment Advisors Inc lifted its holdings in Copart by 87.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider’s stock worth $30,000 after buying an additional 323 shares during the period. Annapolis Financial Services LLC grew its position in shares of Copart by 100.0% in the 3rd quarter. Annapolis Financial Services LLC now owns 720 shares of the business services provider’s stock worth $31,000 after buying an additional 360 shares during the last quarter. Finally, Fortitude Family Office LLC purchased a new position in shares of Copart during the fourth quarter valued at approximately $34,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CPRT. StockNews.com lowered Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. raised their target price on shares of Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, Copart currently has a consensus rating of “Hold” and an average price target of $51.00.

Insider Activity

In related news, Chairman A Jayson Adair sold 600,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the completion of the transaction, the chairman now owns 19,687,980 shares of the company’s stock, valued at approximately $1,137,374,604.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Chairman A Jayson Adair sold 600,000 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the sale, the chairman now directly owns 19,687,980 shares of the company’s stock, valued at approximately $1,137,374,604.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matt Blunt sold 100,000 shares of Copart stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $51.06, for a total transaction of $5,106,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 985,000 shares of company stock worth $55,519,950. Insiders own 10.23% of the company’s stock.

Copart Stock Up 0.3 %

Shares of CPRT stock opened at $55.93 on Wednesday. The stock has a market cap of $53.78 billion, a price-to-earnings ratio of 40.24 and a beta of 1.22. The business’s fifty day moving average is $55.53 and its 200 day moving average is $50.95. Copart, Inc. has a twelve month low of $39.28 and a twelve month high of $58.58.

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

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.