Cerity Partners LLC Increases Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Cerity Partners LLC lifted its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 189.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 100,037 shares of the business services provider’s stock after buying an additional 65,522 shares during the period. Cerity Partners LLC’s holdings in Copart were worth $4,902,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Veritable L.P. lifted its holdings in Copart by 0.9% during the first quarter. Veritable L.P. now owns 15,198 shares of the business services provider’s stock worth $1,143,000 after acquiring an additional 136 shares during the period. Retirement Systems of Alabama raised its stake in shares of Copart by 0.3% in the third quarter. Retirement Systems of Alabama now owns 71,048 shares of the business services provider’s stock valued at $7,560,000 after buying an additional 189 shares during the period. Hollencrest Capital Management raised its stake in shares of Copart by 92.1% in the first quarter. Hollencrest Capital Management now owns 438 shares of the business services provider’s stock valued at $33,000 after buying an additional 210 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in shares of Copart by 3.9% in the third quarter. Mercer Global Advisors Inc. ADV now owns 5,640 shares of the business services provider’s stock valued at $600,000 after buying an additional 213 shares during the period. Finally, Simon Quick Advisors LLC raised its stake in shares of Copart by 2.6% in the first quarter. Simon Quick Advisors LLC now owns 9,286 shares of the business services provider’s stock valued at $698,000 after buying an additional 238 shares during the period. 85.78% of the stock is currently owned by institutional investors.

Insider Activity at Copart

In related news, Chairman A Jayson Adair sold 600,000 shares of the business’s stock in a transaction dated 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 directly owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Thomas N. Tryforos sold 285,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 35,000 shares in the company, valued at $1,934,450. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman A Jayson Adair sold 600,000 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $57.77, for a total value of $34,662,000.00. Following the transaction, the chairman now owns 19,687,980 shares of the company’s stock, valued at $1,137,374,604.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 985,000 shares of company stock worth $55,519,950. 10.23% of the stock is owned by company insiders.

Copart Stock Performance

NASDAQ:CPRT opened at $54.38 on Wednesday. Copart, Inc. has a 52-week low of $38.35 and a 52-week high of $58.58. The firm has a market cap of $52.29 billion, a price-to-earnings ratio of 39.12 and a beta of 1.22. The business’s fifty day moving average is $54.20 and its 200 day moving average is $49.93.

Copart (NASDAQ:CPRT) last released 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 company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the firm posted $0.31 earnings per share. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. Equities analysts predict that Copart, Inc. will post 1.42 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on CPRT shares. JPMorgan Chase & Co. boosted their target price 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 lowered Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Copart currently has an average rating of “Hold” and a consensus target price of $51.00.

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.