Retirement Wealth Solutions LLC Acquires New Holdings in Copart, Inc. (NASDAQ:CPRT)

Retirement Wealth Solutions LLC bought a new position in Copart, Inc. (NASDAQ:CPRT) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 977 shares of the business services provider’s stock, valued at approximately $54,000.

Other hedge funds have also added to or reduced their stakes in the company. Jensen Investment Management Inc. increased its position in shares of Copart by 2,466.0% during the 3rd quarter. Jensen Investment Management Inc. now owns 3,536,233 shares of the business services provider’s stock valued at $185,299,000 after purchasing an additional 3,398,423 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Copart by 462.8% during the third quarter. Assenagon Asset Management S.A. now owns 3,668,696 shares of the business services provider’s stock valued at $192,240,000 after buying an additional 3,016,795 shares during the last quarter. Franklin Resources Inc. raised its position in Copart by 335.8% in the third quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock worth $149,471,000 after acquiring an additional 2,084,626 shares during the period. Comgest Global Investors S.A.S. boosted its stake in shares of Copart by 706.6% during the 3rd quarter. Comgest Global Investors S.A.S. now owns 1,586,886 shares of the business services provider’s stock worth $83,153,000 after acquiring an additional 1,390,146 shares during the last quarter. Finally, Kimelman & Baird LLC bought a new stake in shares of Copart during the 2nd quarter valued at $70,307,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. raised their target price on Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th.

Insider Buying and Selling

In other Copart news, Director Daniel J. Englander sold 235,480 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $56.84, for a total transaction of $13,384,683.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the sale, the chairman now owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. The trade was a 1.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 650,213 shares of company stock valued at $39,199,813. Company insiders own 9.68% of the company’s stock.

Copart Trading Up 0.9 %

Shares of NASDAQ:CPRT opened at $56.90 on Friday. The stock has a 50 day moving average of $59.07 and a 200 day moving average of $54.71. The company has a market cap of $54.82 billion, a PE ratio of 40.07 and a beta of 1.33. Copart, Inc. has a 12-month low of $47.51 and a 12-month high of $64.38.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.37. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.10 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. The company’s revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.34 earnings per share. Equities research analysts predict that Copart, Inc. will post 1.57 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.