CHURCHILL MANAGEMENT Corp Sells 247 Shares of Copart, Inc. $CPRT

CHURCHILL MANAGEMENT Corp lessened its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 0.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,474 shares of the business services provider’s stock after selling 247 shares during the quarter. CHURCHILL MANAGEMENT Corp’s holdings in Copart were worth $3,017,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Cloud Capital Management LLC purchased a new stake in Copart during the 1st quarter valued at $26,000. Atticus Wealth Management LLC bought a new stake in shares of Copart in the second quarter worth $31,000. Accent Capital Management LLC purchased a new stake in Copart during the first quarter valued at $36,000. Financial Network Wealth Advisors LLC increased its position in Copart by 152.6% during the first quarter. Financial Network Wealth Advisors LLC now owns 783 shares of the business services provider’s stock valued at $44,000 after acquiring an additional 473 shares during the last quarter. Finally, SouthState Corp bought a new position in Copart in the first quarter valued at about $45,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Price Performance

Shares of NASDAQ:CPRT opened at $45.09 on Thursday. The company has a market capitalization of $43.63 billion, a P/E ratio of 28.18 and a beta of 1.04. Copart, Inc. has a 1-year low of $44.23 and a 1-year high of $64.38. The firm’s 50 day simple moving average is $47.03 and its two-hundred day simple moving average is $51.75.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.37 by $0.04. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.14 billion. Copart had a net margin of 33.41% and a return on equity of 18.17%. The company’s revenue was up 2.9% on a year-over-year basis. During the same period last year, the firm earned $0.33 EPS. On average, sell-side analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Thomas N. Tryforos sold 228,840 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $47.54, for a total value of $10,879,053.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey Liaw sold 24,088 shares of Copart stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total value of $1,118,405.84. Following the sale, the chief executive officer directly owned 31,527 shares in the company, valued at $1,463,798.61. This trade represents a 43.31% decrease in their position. The disclosure for this sale can be found here. 9.68% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CPRT shares. Stephens cut their price target on Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a research note on Friday, September 5th. 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. Hsbc Global Res upgraded 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 target on shares of Copart and gave the stock a “buy” rating in a research note on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $54.50.

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.