Sigma Planning Corp Decreases Holdings in Copart, Inc. $CPRT

Sigma Planning Corp trimmed its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 19.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 22,007 shares of the business services provider’s stock after selling 5,160 shares during the quarter. Sigma Planning Corp’s holdings in Copart were worth $1,080,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CPRT. Brighton Jones LLC raised its position in shares of Copart by 92.1% during the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock valued at $816,000 after buying an additional 6,817 shares in the last quarter. D.A. Davidson & CO. raised its position in shares of Copart by 18.9% during the 1st quarter. D.A. Davidson & CO. now owns 10,369 shares of the business services provider’s stock valued at $587,000 after buying an additional 1,645 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Copart by 1.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 4,151,771 shares of the business services provider’s stock valued at $234,949,000 after buying an additional 73,157 shares in the last quarter. Liberty One Investment Management LLC raised its position in shares of Copart by 14.8% during the 1st quarter. Liberty One Investment Management LLC now owns 3,404 shares of the business services provider’s stock valued at $193,000 after buying an additional 440 shares in the last quarter. Finally, Valeo Financial Advisors LLC raised its position in shares of Copart by 13.7% during the 1st quarter. Valeo Financial Advisors LLC now owns 6,462 shares of the business services provider’s stock valued at $366,000 after buying an additional 779 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Performance

NASDAQ CPRT opened at $41.93 on Thursday. The firm’s 50 day moving average price is $45.57 and its 200-day moving average price is $49.52. Copart, Inc. has a 52-week low of $41.83 and a 52-week high of $64.38. The company has a market cap of $40.58 billion, a PE ratio of 26.21 and a beta of 1.03.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. Copart had a net margin of 33.41% and a return on equity of 18.17%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the firm earned $0.33 earnings per share. The company’s quarterly revenue was up 2.9% on a year-over-year basis. On average, analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jeffrey Liaw sold 24,283 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the transaction, the chief executive officer directly owned 31,332 shares in the company, valued at approximately $1,403,360.28. This trade represents a 43.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas N. Tryforos sold 228,840 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $47.54, for a total transaction of $10,879,053.60. Additional details regarding this sale are available in the official SEC disclosure. 9.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CPRT. Weiss Ratings restated a “hold (c)” rating on shares of Copart in a research report on Wednesday, October 8th. Robert W. Baird reduced their price objective on shares of Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, July 17th. Hsbc Global Res raised shares of Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. HSBC set a $62.00 price objective on shares of Copart and gave the stock a “buy” rating in a research report on Thursday, September 4th. Finally, Stephens reduced their price objective on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $54.50.

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.