Westfield Capital Management Co. LP Cuts Holdings in Copart, Inc. $CPRT

Westfield Capital Management Co. LP decreased its holdings in Copart, Inc. (NASDAQ:CPRT) by 2.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 967,903 shares of the business services provider’s stock after selling 24,017 shares during the period. Westfield Capital Management Co. LP owned about 0.10% of Copart worth $47,495,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Atticus Wealth Management LLC purchased a new position in shares of Copart in the 2nd quarter valued at $31,000. Ameritas Advisory Services LLC bought a new stake in Copart during the second quarter valued at about $31,000. Creekmur Asset Management LLC boosted its position in Copart by 1,063.0% during the second quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 574 shares in the last quarter. Accent Capital Management LLC purchased a new position in Copart in the first quarter valued at about $36,000. Finally, Bank of Jackson Hole Trust raised its holdings in Copart by 83.8% in the second quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock worth $36,000 after purchasing an additional 335 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 24,283 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the sale, the chief executive officer owned 31,332 shares in the company, valued at approximately $1,403,360.28. The trade was a 43.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas N. Tryforos sold 228,840 shares of the 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 9.60% of the company’s stock.

Copart Trading Down 0.8%

Shares of Copart stock opened at $41.02 on Friday. The firm’s 50 day simple moving average is $43.90 and its two-hundred day simple moving average is $48.11. The firm has a market capitalization of $39.70 billion, a price-to-earnings ratio of 25.64 and a beta of 1.06. Copart, Inc. has a 12-month low of $39.58 and a 12-month high of $64.38.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, November 20th. The business services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. Copart had a net margin of 33.41% and a return on equity of 18.17%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the firm posted $0.37 earnings per share. The business’s revenue for the quarter was up .7% compared to the same quarter last year. On average, sell-side analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CPRT. HSBC set a $62.00 price target on shares of Copart and gave the company a “buy” rating in a report on Thursday, September 4th. Barclays reissued an “underweight” rating and set a $33.00 target price on shares of Copart in a research report on Friday. Stephens cut their price target 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. Finally, Hsbc Global Res raised Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $50.20.

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.