Impact Capital Partners LLC Raises Stock Position in Copart, Inc. $CPRT

Impact Capital Partners LLC raised its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 5.2% during the second quarter, Holdings Channel reports. The firm owned 7,063 shares of the business services provider’s stock after buying an additional 349 shares during the quarter. Impact Capital Partners LLC’s holdings in Copart were worth $347,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CPRT. Brighton Jones LLC increased its position in Copart by 92.1% during the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock valued at $816,000 after purchasing an additional 6,817 shares during the period. Versant Capital Management Inc increased its position in Copart by 1,567.9% during the 1st quarter. Versant Capital Management Inc now owns 884 shares of the business services provider’s stock valued at $50,000 after purchasing an additional 831 shares during the period. Merit Financial Group LLC increased its position in Copart by 6.9% during the 1st quarter. Merit Financial Group LLC now owns 136,333 shares of the business services provider’s stock valued at $7,715,000 after purchasing an additional 8,801 shares during the period. HBW Advisory Services LLC increased its position in Copart by 32.2% during the 1st quarter. HBW Advisory Services LLC now owns 9,412 shares of the business services provider’s stock valued at $533,000 after purchasing an additional 2,295 shares during the period. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Copart by 2.5% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 29,353 shares of the business services provider’s stock valued at $1,661,000 after buying an additional 710 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Price Performance

Shares of Copart stock opened at $45.09 on Thursday. The stock has a market cap of $43.63 billion, a price-to-earnings ratio of 28.18 and a beta of 1.04. The firm’s 50-day moving average is $47.03 and its 200 day moving average is $51.75. Copart, Inc. has a 1 year low of $44.23 and a 1 year high of $64.38.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Copart had a net margin of 33.41% and a return on equity of 18.17%. Copart’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.33 EPS. On average, equities analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CPRT. Robert W. Baird dropped their target price on shares of Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, July 17th. HSBC set a $62.00 target price on shares of Copart and gave the company a “buy” rating in a report on Thursday, September 4th. Hsbc Global Res upgraded shares of Copart from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. Finally, Stephens dropped their target price on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Copart currently has an average rating of “Moderate Buy” and an average price target of $54.50.

Insider Transactions at Copart

In related news, Director Thomas N. Tryforos sold 228,840 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $47.54, for a total value of $10,879,053.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jeffrey Liaw sold 24,088 shares of the company’s stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the transaction, the chief executive officer owned 31,527 shares in the company, valued at $1,463,798.61. This represents a 43.31% decrease in their position. The disclosure for this sale can be found here. Insiders own 9.68% of the company’s stock.

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.