Marks Group Wealth Management Inc Has $9.44 Million Stock Position in Copart, Inc. $CPRT

Marks Group Wealth Management Inc reduced its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 0.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 192,302 shares of the business services provider’s stock after selling 452 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Copart were worth $9,436,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Copart by 2.1% during the first quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider’s stock valued at $5,900,295,000 after buying an additional 2,134,890 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Copart by 3.3% during the first quarter. Principal Financial Group Inc. now owns 39,409,377 shares of the business services provider’s stock valued at $2,230,177,000 after buying an additional 1,249,687 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Copart by 15.9% during the first quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider’s stock valued at $868,417,000 after buying an additional 2,106,656 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Copart by 7.5% during the first quarter. Invesco Ltd. now owns 9,490,237 shares of the business services provider’s stock valued at $537,052,000 after buying an additional 658,329 shares during the last quarter. Finally, Amundi grew its holdings in shares of Copart by 32.5% during the first quarter. Amundi now owns 9,380,026 shares of the business services provider’s stock valued at $531,256,000 after buying an additional 2,299,192 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CPRT shares. Hsbc Global Res raised shares of Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. Stephens cut their target price on Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Friday, September 5th. HSBC set a $62.00 target price on Copart and gave the stock a “buy” rating in a research note on Thursday, September 4th. Robert W. Baird cut their target price on Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, July 17th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Copart in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $54.50.

Insider Buying and Selling

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

Copart Trading Up 1.2%

Copart stock opened at $45.11 on Monday. The firm’s 50 day simple moving average is $46.97 and its 200 day simple moving average is $51.61. The firm has a market capitalization of $43.65 billion, a PE ratio of 28.19 and a beta of 1.03. Copart, Inc. has a 1-year low of $44.23 and a 1-year high of $64.38.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.33 EPS. Research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

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.