Sigma Planning Corp Decreases Stock Position in Copart, Inc. $CPRT

Sigma Planning Corp reduced its position in Copart, Inc. (NASDAQ:CPRT) by 19.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,007 shares of the business services provider’s stock after selling 5,160 shares during the period. Sigma Planning Corp’s holdings in Copart were worth $1,080,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CPRT. Nuveen LLC bought a new stake in Copart in the 1st quarter worth approximately $267,723,000. Fiera Capital Corp grew its position in Copart by 195.6% in the 1st quarter. Fiera Capital Corp now owns 3,992,610 shares of the business services provider’s stock worth $225,942,000 after purchasing an additional 2,642,100 shares during the period. PineStone Asset Management Inc. grew its position in Copart by 56.4% in the 2nd quarter. PineStone Asset Management Inc. now owns 6,407,471 shares of the business services provider’s stock worth $314,415,000 after purchasing an additional 2,310,067 shares during the period. Amundi grew its position in Copart by 32.5% in the 1st quarter. Amundi now owns 9,380,026 shares of the business services provider’s stock worth $531,256,000 after purchasing an additional 2,299,192 shares during the period. Finally, Vanguard Group Inc. grew its position in Copart by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider’s stock worth $5,900,295,000 after purchasing an additional 2,134,890 shares during the period. Institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a research report on Wednesday, October 8th. Robert W. Baird cut their target price on shares of Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, July 17th. Stephens cut their target price on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a research report on Friday, September 5th. Hsbc Global Res raised shares of Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. Finally, HSBC set a $62.00 price objective on shares of Copart and gave the company a “buy” rating in a research report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Copart presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.50.

Insider Buying and Selling at Copart

In other Copart news, CEO Jeffrey Liaw sold 24,283 shares of the business’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total value of $1,087,635.57. Following the sale, the chief executive officer owned 31,332 shares in the company, valued at $1,403,360.28. The trade was a 43.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas N. Tryforos sold 228,840 shares of the business’s 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. Additional details regarding this sale are available in the official SEC disclosure. 9.68% of the stock is owned by insiders.

Copart Stock Performance

Shares of Copart stock opened at $41.93 on Thursday. The company has a market capitalization of $40.58 billion, a P/E ratio of 26.21 and a beta of 1.03. Copart, Inc. has a fifty-two week low of $41.83 and a fifty-two week high of $64.38. The company has a fifty day moving average of $45.57 and a 200 day moving average of $49.52.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.37 by $0.04. The business 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%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.33 EPS. Analysts forecast that Copart, Inc. will post 1.57 EPS for the current year.

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.