Copart, Inc. $CPRT Shares Acquired by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC raised its position in Copart, Inc. (NASDAQ:CPRT) by 21.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 249,396 shares of the business services provider’s stock after purchasing an additional 43,292 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Copart were worth $11,215,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cloud Capital Management LLC bought a new stake in Copart during the third quarter worth approximately $25,000. Tripletail Wealth Management LLC acquired a new stake in shares of Copart in the third quarter valued at $27,000. LRI Investments LLC grew its holdings in Copart by 125.2% during the third quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock worth $29,000 after acquiring an additional 363 shares during the period. Cornerstone Planning Group LLC raised its position in Copart by 54.0% in the third quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock worth $31,000 after acquiring an additional 256 shares in the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. lifted its holdings in Copart by 173.4% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 864 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 548 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 25,137 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total value of $1,009,753.29. Following the transaction, the chief executive officer directly owned 55,970 shares of the company’s stock, valued at approximately $2,248,314.90. This trade represents a 30.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 9.60% of the company’s stock.

Copart Trading Down 0.6%

Shares of NASDAQ:CPRT opened at $33.88 on Tuesday. The stock has a market capitalization of $32.64 billion, a PE ratio of 21.18 and a beta of 1.09. Copart, Inc. has a 1 year low of $33.53 and a 1 year high of $63.85. The firm has a fifty day moving average price of $38.62 and a 200 day moving average price of $41.27.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). Copart had a net margin of 33.76% and a return on equity of 16.68%. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the business earned $0.40 earnings per share. Copart’s quarterly revenue was down 3.6% on a year-over-year basis. On average, sell-side analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Robert W. Baird set a $48.00 target price on shares of Copart and gave the stock an “outperform” rating in a report on Friday, February 20th. Barclays restated an “underweight” rating and set a $32.00 price target (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Zacks Research cut Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 24th. JPMorgan Chase & Co. dropped their target price on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. Finally, CJS Securities raised Copart to a “strong-buy” rating in a research note on Thursday, December 11th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Copart presently has a consensus rating of “Hold” and an average target price of $44.40.

Copart Company Profile

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.