Wambolt & Associates LLC Sells 3,047 Shares of Copart, Inc. $CPRT

Wambolt & Associates LLC lessened its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 29.0% during the 2nd quarter, Holdings Channel.com reports. The fund owned 7,475 shares of the business services provider’s stock after selling 3,047 shares during the period. Wambolt & Associates LLC’s holdings in Copart were worth $371,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Employees Retirement System of Texas acquired a new position in shares of Copart during the 2nd quarter worth $5,682,000. Northwest & Ethical Investments L.P. boosted its holdings in Copart by 595.9% in the second quarter. Northwest & Ethical Investments L.P. now owns 130,740 shares of the business services provider’s stock worth $6,402,000 after purchasing an additional 111,952 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Copart by 42.2% in the second quarter. Russell Investments Group Ltd. now owns 2,458,304 shares of the business services provider’s stock worth $120,465,000 after purchasing an additional 729,528 shares in the last quarter. Inceptionr LLC increased its position in Copart by 568.4% during the second quarter. Inceptionr LLC now owns 31,121 shares of the business services provider’s stock worth $1,527,000 after buying an additional 26,465 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in Copart by 8.0% during the second quarter. Advisors Asset Management Inc. now owns 23,025 shares of the business services provider’s stock valued at $1,130,000 after buying an additional 1,712 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Stock Up 0.4%

Shares of CPRT stock opened at $39.06 on Wednesday. Copart, Inc. has a 12 month low of $38.67 and a 12 month high of $64.38. The firm has a market cap of $37.80 billion, a PE ratio of 24.41 and a beta of 1.06. The stock has a 50 day moving average of $43.42 and a 200-day moving average of $47.46.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, November 20th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.18 billion. Copart had a net margin of 33.41% and a return on equity of 18.17%. Copart’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter last year, the company posted $0.37 earnings per share. As a group, equities analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Robert W. Baird reduced their price target on Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday, November 21st. Hsbc Global Res raised Copart from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lowered their price target on Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Monday. Finally, HSBC set a $62.00 price target on shares of Copart and gave the company a “buy” rating in a research report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $47.60.

Insider Buying and Selling at Copart

In related news, Director Thomas N. Tryforos sold 100,000 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total value of $3,907,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey Liaw sold 24,283 shares of Copart stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total value of $1,087,635.57. Following the sale, 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 SEC filing for this sale provides additional information. Insiders sold a total of 353,123 shares of company stock worth $15,873,689 over the last 90 days. Company insiders own 9.60% of the company’s stock.

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.