Planned Solutions Inc. Invests $106,000 in Copart, Inc. (NASDAQ:CPRT)

Planned Solutions Inc. bought a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,160 shares of the business services provider’s stock, valued at approximately $106,000.

Several other hedge funds have also modified their holdings of the stock. Assenagon Asset Management S.A. lifted its stake in Copart by 12.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,223,499 shares of the business services provider’s stock valued at $59,951,000 after buying an additional 136,309 shares in the last quarter. Douglas Lane & Associates LLC acquired a new position in shares of Copart in the 4th quarter valued at about $221,000. Artemis Investment Management LLP grew its position in Copart by 29.0% during the fourth quarter. Artemis Investment Management LLP now owns 1,167,186 shares of the business services provider’s stock valued at $57,193,000 after purchasing an additional 262,499 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Copart by 22.2% during the 4th quarter. Pacer Advisors Inc. now owns 145,950 shares of the business services provider’s stock valued at $7,152,000 after acquiring an additional 26,558 shares in the last quarter. Finally, CVA Family Office LLC bought a new position in shares of Copart in the 4th quarter valued at approximately $45,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Stock Performance

Shares of NASDAQ CPRT opened at $57.24 on Thursday. Copart, Inc. has a 52-week low of $36.30 and a 52-week high of $57.90. The stock has a market cap of $55.04 billion, a P/E ratio of 41.18 and a beta of 1.22. The firm has a 50 day moving average price of $52.13 and a 200 day moving average price of $48.65.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.02). The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.03 billion. Copart had a net margin of 33.41% and a return on equity of 21.55%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.31 EPS. Analysts predict that Copart, Inc. will post 1.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Copart

In other Copart news, Director Thomas N. Tryforos sold 285,000 shares of Copart stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total value of $15,751,950.00. Following the sale, the director now directly owns 35,000 shares in the company, valued at approximately $1,934,450. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Thomas N. Tryforos sold 285,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the transaction, the director now directly owns 35,000 shares in the company, valued at $1,934,450. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Daniel J. Englander sold 320,000 shares of Copart stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $47.04, for a total transaction of $15,052,800.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 705,000 shares of company stock worth $35,910,750. Corporate insiders own 10.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CPRT. JPMorgan Chase & Co. assumed coverage on Copart in a research report on Tuesday, February 27th. They issued a “neutral” rating and a $48.00 price target on the stock. HSBC initiated coverage on shares of Copart in a research note on Monday, December 4th. They issued a “hold” rating and a $51.00 target price on the stock. Finally, StockNews.com lowered Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $50.00.

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.