Orion Portfolio Solutions LLC Trims Stake in Copart, Inc. (NASDAQ:CPRT)

Orion Portfolio Solutions LLC lowered its holdings in Copart, Inc. (NASDAQ:CPRT) by 29.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 102,659 shares of the business services provider’s stock after selling 42,727 shares during the period. Orion Portfolio Solutions LLC’s holdings in Copart were worth $4,860,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Millington Financial Advisors LLC bought a new stake in Copart during the third quarter valued at approximately $1,287,000. Private Advisor Group LLC lifted its holdings in shares of Copart by 98.6% in the 3rd quarter. Private Advisor Group LLC now owns 24,698 shares of the business services provider’s stock worth $1,064,000 after acquiring an additional 12,260 shares during the last quarter. Corient Private Wealth LLC boosted its position in Copart by 103.3% during the third quarter. Corient Private Wealth LLC now owns 213,091 shares of the business services provider’s stock valued at $9,183,000 after buying an additional 108,298 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Copart by 93.8% in the third quarter. EverSource Wealth Advisors LLC now owns 1,802 shares of the business services provider’s stock worth $78,000 after buying an additional 872 shares during the period. Finally, Lincoln National Corp lifted its stake in shares of Copart by 94.7% in the 3rd quarter. Lincoln National Corp now owns 5,680 shares of the business services provider’s stock valued at $245,000 after acquiring an additional 2,763 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, Director Thomas N. Tryforos sold 285,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total value of $15,751,950.00. Following the transaction, the director now directly owns 35,000 shares of the company’s stock, valued at approximately $1,934,450. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Thomas N. Tryforos sold 285,000 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total value of $15,751,950.00. Following the completion of the sale, the director now directly owns 35,000 shares of the company’s stock, valued at $1,934,450. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman A Jayson Adair sold 600,000 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $57.77, for a total value of $34,662,000.00. Following the completion of the transaction, the chairman now owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The disclosure for this sale can be found here. Insiders own 10.23% of the company’s stock.

Copart Stock Up 0.9 %

CPRT opened at $54.02 on Monday. The business has a 50 day moving average of $55.50 and a 200-day moving average of $51.88. The stock has a market cap of $51.98 billion, a PE ratio of 38.04 and a beta of 1.22. Copart, Inc. has a 52 week low of $42.41 and a 52 week high of $58.58.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, May 16th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.11 billion. Copart had a return on equity of 20.80% and a net margin of 33.33%. Copart’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 EPS. Equities analysts anticipate that Copart, Inc. will post 1.43 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.