R Squared Ltd Buys Shares of 1,280 Copart, Inc. (NASDAQ:CPRT)

R Squared Ltd purchased a new stake in shares of Copart, Inc. (NASDAQ:CPRT) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,280 shares of the business services provider’s stock, valued at approximately $73,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Cadence Bank increased its holdings in Copart by 0.6% in the 3rd quarter. Cadence Bank now owns 31,549 shares of the business services provider’s stock valued at $1,653,000 after purchasing an additional 178 shares during the last quarter. Everpar Advisors LLC boosted its position in shares of Copart by 4.3% during the fourth quarter. Everpar Advisors LLC now owns 4,811 shares of the business services provider’s stock worth $276,000 after buying an additional 199 shares during the period. Duncan Williams Asset Management LLC grew its stake in shares of Copart by 1.3% in the third quarter. Duncan Williams Asset Management LLC now owns 15,437 shares of the business services provider’s stock valued at $809,000 after buying an additional 203 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in shares of Copart by 2.3% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 9,226 shares of the business services provider’s stock valued at $529,000 after buying an additional 208 shares during the period. Finally, Covestor Ltd lifted its stake in Copart by 5.1% during the 3rd quarter. Covestor Ltd now owns 4,299 shares of the business services provider’s stock worth $225,000 after acquiring an additional 209 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Stock Down 1.1 %

NASDAQ:CPRT opened at $57.93 on Friday. The company has a market cap of $55.82 billion, a price-to-earnings ratio of 40.80 and a beta of 1.33. Copart, Inc. has a 52 week low of $47.92 and a 52 week high of $64.38. The company has a fifty day simple moving average of $59.11 and a two-hundred day simple moving average of $54.93.

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

Insider Activity at Copart

In related news, Director Diane M. Morefield sold 30,000 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total value of $1,740,300.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at $1,160,200. This represents a 60.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total value of $16,038,273.17. Following the sale, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at $920,907,971.03. This trade represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 650,213 shares of company stock valued at $39,199,813 over the last 90 days. 9.68% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

About Copart

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.