Raymond James Financial Inc. Invests $69.16 Million in Copart, Inc. (NASDAQ:CPRT)

Raymond James Financial Inc. acquired a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,205,121 shares of the business services provider’s stock, valued at approximately $69,162,000. Raymond James Financial Inc. owned approximately 0.13% of Copart as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CPRT. Quarry LP acquired a new position in Copart in the third quarter valued at approximately $29,000. Ashton Thomas Securities LLC acquired a new position in Copart in the third quarter valued at approximately $33,000. True Wealth Design LLC boosted its holdings in Copart by 1,737.1% in the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 608 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in Copart in the fourth quarter valued at approximately $54,000. Finally, Continuum Advisory LLC boosted its holdings in Copart by 88.6% in the third quarter. Continuum Advisory LLC now owns 962 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 452 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Copart

In other news, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Diane M. Morefield sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total value of $1,740,300.00. Following the sale, the director now owns 20,000 shares of the company’s stock, valued at $1,160,200. This trade represents a 60.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 315,480 shares of company stock worth $18,007,983. 9.68% of the stock is owned by insiders.

Copart Trading Up 0.0 %

Shares of NASDAQ CPRT opened at $53.74 on Monday. Copart, Inc. has a twelve month low of $48.05 and a twelve month high of $64.38. The stock has a 50 day moving average of $57.16 and a two-hundred day moving average of $56.00. The stock has a market cap of $51.92 billion, a P/E ratio of 36.07 and a beta of 1.30.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. Copart had a return on equity of 19.31% and a net margin of 32.27%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. As a group, research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. upped their price target on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th.

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.