Segment Wealth Management LLC Grows Holdings in Copart, Inc. $CPRT

Segment Wealth Management LLC boosted its holdings in Copart, Inc. (NASDAQ:CPRT) by 8.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 45,511 shares of the business services provider’s stock after purchasing an additional 3,493 shares during the quarter. Segment Wealth Management LLC’s holdings in Copart were worth $2,233,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Sowell Financial Services LLC bought a new position in shares of Copart during the 1st quarter valued at approximately $604,000. GC Wealth Management RIA LLC purchased a new position in shares of Copart during the 2nd quarter worth about $219,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Copart by 52.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 23,862 shares of the business services provider’s stock worth $1,350,000 after purchasing an additional 8,181 shares during the period. Handelsbanken Fonder AB boosted its stake in shares of Copart by 53.3% during the 1st quarter. Handelsbanken Fonder AB now owns 854,336 shares of the business services provider’s stock worth $48,347,000 after purchasing an additional 297,210 shares during the period. Finally, Private Trust Co. NA lifted its position in shares of Copart by 16.5% during the first quarter. Private Trust Co. NA now owns 4,142 shares of the business services provider’s stock worth $234,000 after purchasing an additional 586 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Copart Price Performance

Shares of CPRT stock opened at $45.11 on Friday. The company has a market cap of $43.65 billion, a price-to-earnings ratio of 28.19 and a beta of 1.03. The stock has a 50 day simple moving average of $46.97 and a 200-day simple moving average of $51.64. Copart, Inc. has a 1-year low of $44.23 and a 1-year high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.37 by $0.04. Copart had a return on equity of 18.17% and a net margin of 33.41%.The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the business earned $0.33 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. Analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on CPRT shares. Hsbc Global Res upgraded Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. Stephens cut their target price on Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Friday, September 5th. Robert W. Baird dropped their price target on Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, July 17th. HSBC set a $62.00 target price on Copart and gave the company a “buy” rating in a research report on Thursday, September 4th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Copart in a research report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Copart currently has a consensus rating of “Moderate Buy” and an average price target of $54.50.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 24,088 shares of the business’s stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the completion of the sale, the chief executive officer directly owned 31,527 shares in the company, valued at approximately $1,463,798.61. The trade was a 43.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas N. Tryforos sold 228,840 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $47.54, for a total value of $10,879,053.60. The disclosure for this sale can be found here. 9.68% of the stock is currently owned by insiders.

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.