eCIO Inc. Makes New Investment in Copart, Inc. $CPRT

eCIO Inc. acquired a new stake in Copart, Inc. (NASDAQ:CPRT) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,063 shares of the business services provider’s stock, valued at approximately $173,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cloud Capital Management LLC purchased a new position in Copart during the 1st quarter valued at about $26,000. Sunbelt Securities Inc. acquired a new stake in shares of Copart during the fourth quarter worth about $31,000. Accent Capital Management LLC purchased a new position in shares of Copart in the first quarter valued at approximately $36,000. Financial Network Wealth Advisors LLC boosted its stake in shares of Copart by 152.6% in the first quarter. Financial Network Wealth Advisors LLC now owns 783 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 473 shares during the period. Finally, SouthState Corp acquired a new position in shares of Copart in the first quarter valued at approximately $45,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of the firm’s stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the sale, the chief executive officer owned 31,527 shares of the company’s stock, valued at approximately $1,463,798.61. This trade represents a 43.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.68% of the stock is owned by corporate insiders.

Copart Price Performance

Copart stock opened at $48.90 on Friday. The stock has a market cap of $47.28 billion, a PE ratio of 30.56 and a beta of 1.03. The stock’s fifty day moving average is $47.41 and its two-hundred day moving average is $52.56. Copart, Inc. has a 1-year low of $45.05 and a 1-year high of $64.38.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. Copart had a return on equity of 18.17% and a net margin of 33.41%.The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the business posted $0.33 EPS. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Robert W. Baird reduced their target price on shares of Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, July 17th. Hsbc Global Res upgraded Copart from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 4th. JPMorgan Chase & Co. decreased their target price on Copart from $60.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, May 23rd. Stephens cut their price target on Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a report on Friday, September 5th. Finally, HSBC set a $62.00 price target on Copart and gave the company a “buy” rating in a research report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.50.

Copart Company 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.