Litman Gregory Wealth Management LLC Grows Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Litman Gregory Wealth Management LLC raised its position in shares of Copart, Inc. (NASDAQ:CPRT) by 3.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 164,099 shares of the business services provider’s stock after buying an additional 4,744 shares during the period. Litman Gregory Wealth Management LLC’s holdings in Copart were worth $8,041,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Nordea Investment Management AB raised its stake in shares of Copart by 64.1% in the fourth quarter. Nordea Investment Management AB now owns 1,441,839 shares of the business services provider’s stock valued at $70,448,000 after acquiring an additional 563,233 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Copart by 1.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,848,048 shares of the business services provider’s stock valued at $139,554,000 after acquiring an additional 44,248 shares in the last quarter. CHURCHILL MANAGEMENT Corp raised its stake in Copart by 57.9% in the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 63,521 shares of the business services provider’s stock valued at $3,113,000 after buying an additional 23,304 shares in the last quarter. Artemis Investment Management LLP raised its stake in Copart by 29.0% in the fourth quarter. Artemis Investment Management LLP now owns 1,167,186 shares of the business services provider’s stock valued at $57,193,000 after buying an additional 262,499 shares in the last quarter. Finally, Checchi Capital Advisers LLC raised its stake in Copart by 72.5% in the third quarter. Checchi Capital Advisers LLC now owns 6,228 shares of the business services provider’s stock valued at $268,000 after buying an additional 2,618 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Thomas N. Tryforos sold 285,000 shares of Copart stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the completion of the sale, the director now directly owns 35,000 shares in the company, valued at approximately $1,934,450. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Thomas N. Tryforos sold 285,000 shares of Copart stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the completion of the transaction, the director now directly owns 35,000 shares in the company, valued at approximately $1,934,450. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matt Blunt sold 100,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $51.06, for a total value of $5,106,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 985,000 shares of company stock worth $55,519,950. Company insiders own 10.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CPRT shares. StockNews.com cut Copart from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. raised their price target on Copart from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $51.00.

Copart Price Performance

Shares of CPRT stock traded down $0.32 during midday trading on Friday, reaching $52.88. 5,783,457 shares of the company traded hands, compared to its average volume of 4,639,612. The firm’s 50 day simple moving average is $54.34 and its two-hundred day simple moving average is $50.05. Copart, Inc. has a 1-year low of $38.35 and a 1-year high of $58.58. The firm has a market cap of $50.84 billion, a PE ratio of 38.04 and a beta of 1.22.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). Copart had a net margin of 33.41% and a return on equity of 21.55%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the business posted $0.31 earnings per share. Copart’s revenue was up 6.6% on a year-over-year basis. As a group, research analysts anticipate that Copart, Inc. will post 1.42 earnings per share for the current fiscal year.

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.