Waverly Advisors LLC Purchases New Holdings in Copart, Inc. (NASDAQ:CPRT)

Waverly Advisors LLC purchased a new stake in Copart, Inc. (NASDAQ:CPRT) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 8,593 shares of the business services provider’s stock, valued at approximately $493,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CPRT. Norges Bank acquired a new stake in Copart in the 4th quarter valued at about $682,089,000. Madison Investment Advisors LLC acquired a new stake in Copart in the 4th quarter valued at about $253,686,000. Bank of New York Mellon Corp raised its holdings in Copart by 23.3% in the 4th quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider’s stock valued at $1,115,664,000 after acquiring an additional 3,667,534 shares during the last quarter. Edgewood Management LLC raised its holdings in Copart by 14.1% in the 4th quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider’s stock valued at $1,346,548,000 after acquiring an additional 2,907,405 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in Copart by 14.4% in the 4th quarter. Wellington Management Group LLP now owns 14,157,306 shares of the business services provider’s stock valued at $812,488,000 after acquiring an additional 1,785,741 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Copart

In other news, Director James E. Meeks sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total transaction of $5,400,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven D. Cohan sold 94,997 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $60.01, for a total transaction of $5,700,769.97. The disclosure for this sale can be found here. Insiders sold 200,000 shares of company stock worth $11,401,000 in the last 90 days. Insiders own 9.68% of the company’s stock.

Copart Price Performance

Shares of NASDAQ CPRT opened at $53.67 on Friday. The company has a 50 day simple moving average of $58.90 and a 200-day simple moving average of $58.26. The company has a market capitalization of $51.85 billion, a P/E ratio of 36.02 and a beta of 1.20. Copart, Inc. has a 1 year low of $48.05 and a 1 year high of $64.38.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.23 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. The business’s revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.39 EPS. As a group, research analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on CPRT. JPMorgan Chase & Co. cut their price objective on shares of Copart from $60.00 to $55.00 and set a “neutral” rating for the company in a report on Friday. Argus downgraded shares of Copart from a “buy” rating to a “hold” rating in a report on Friday, March 14th.

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.