Independent Solutions Wealth Management LLC Sells 1,965 Shares of Copart, Inc. (NASDAQ:CPRT)

Independent Solutions Wealth Management LLC cut its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 2.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 66,614 shares of the business services provider’s stock after selling 1,965 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Copart were worth $3,491,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CPRT. B. Riley Wealth Advisors Inc. lifted its stake in Copart by 0.8% in the third quarter. B. Riley Wealth Advisors Inc. now owns 27,631 shares of the business services provider’s stock worth $1,447,000 after purchasing an additional 213 shares during the last quarter. Oddo BHF Asset Management Sas bought a new stake in shares of Copart in the 3rd quarter valued at about $1,206,000. American Trust purchased a new stake in Copart during the 3rd quarter valued at about $598,000. Franklin Resources Inc. increased its stake in Copart by 335.8% in the 3rd quarter. Franklin Resources Inc. now owns 2,705,354 shares of the business services provider’s stock worth $149,471,000 after purchasing an additional 2,084,626 shares during the period. Finally, Peapack Gladstone Financial Corp lifted its position in Copart by 6.5% in the third quarter. Peapack Gladstone Financial Corp now owns 104,650 shares of the business services provider’s stock valued at $5,484,000 after purchasing an additional 6,385 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CPRT has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. Robert W. Baird cut their target price on Copart from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Thursday, September 5th.

Copart Trading Down 0.4 %

CPRT stock traded down $0.23 during midday trading on Thursday, hitting $58.74. The company’s stock had a trading volume of 1,336,448 shares, compared to its average volume of 4,403,717. The firm’s 50-day moving average is $57.36 and its 200-day moving average is $54.20. The company has a market cap of $56.60 billion, a PE ratio of 41.37 and a beta of 1.31. Copart, Inc. has a 12 month low of $46.21 and a 12 month high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, hitting analysts’ consensus estimates of $0.37. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The business’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.34 earnings per share. Analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Transactions at Copart

In related news, Chairman A Jayson Adair sold 251,423 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total value of $16,038,273.17. Following the transaction, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at $920,907,971.03. This represents a 1.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas N. Tryforos sold 83,310 shares of Copart stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $61.86, for a total value of $5,153,556.60. Following the sale, the director now directly owns 7,850 shares of the company’s stock, valued at $485,601. This trade represents a 91.39 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.68% of the company’s stock.

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.