Integrated Wealth Concepts LLC Grows Position in Copart, Inc. $CPRT

Integrated Wealth Concepts LLC raised its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 46.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 513,401 shares of the business services provider’s stock after acquiring an additional 163,280 shares during the quarter. Integrated Wealth Concepts LLC owned approximately 0.06% of Copart worth $14,473,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. C M Bidwell & Associates Ltd. purchased a new position in Copart during the 2nd quarter worth $25,000. Versant Capital Management Inc boosted its holdings in Copart by 110.9% in the second quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock worth $27,000 after acquiring an additional 498 shares in the last quarter. Cache Advisors LLC acquired a new stake in Copart in the first quarter worth about $31,000. Compass Financial Management LLC purchased a new stake in shares of Copart during the second quarter worth about $33,000. Finally, Reflection Asset Management purchased a new stake in shares of Copart during the fourth quarter worth about $34,000. Institutional investors own 85.78% of the company’s stock.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total value of $845,945.05. Following the completion of the sale, the chief executive officer directly owned 99,641 shares of the company’s stock, valued at approximately $3,038,054.09. The trade was a 21.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 9.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CPRT shares. Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a research note on Monday. Jefferies Financial Group set a $45.00 price objective on shares of Copart in a research note on Friday, May 22nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Copart in a research note on Wednesday, July 29th. Stephens reaffirmed an “equal weight” rating and issued a $35.00 price target on shares of Copart in a research note on Thursday, August 20th. Finally, Barclays set a $25.00 target price on shares of Copart and gave the stock an “underweight” rating in a research note on Wednesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $38.83.

Copart Stock Performance

Copart stock opened at $32.03 on Thursday. The company has a market capitalization of $29.65 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 1.56 and a beta of 1.03. Copart, Inc. has a fifty-two week low of $26.81 and a fifty-two week high of $49.05. The firm has a 50 day moving average price of $30.34 and a 200 day moving average price of $32.12.

About Copart

Copart, Inc (NASDAQ: CPRT) provides online vehicle auction and remarketing services. The company operates a global marketplace where damaged, recovered, used and other vehicles are sold primarily through online auctions. Its offerings include salvage and clean-title vehicles, with inventory sourced from insurance companies, banks, dealerships, fleet operators, rental companies, government agencies and other organizations.

Copart supports the vehicle remarketing process through inspection, storage, transportation, title processing and auction services.