Janney Montgomery Scott LLC Has $11.08 Million Stock Position in Copart, Inc. $CPRT

Janney Montgomery Scott LLC increased its position in Copart, Inc. (NASDAQ:CPRT) by 14.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 333,624 shares of the business services provider’s stock after purchasing an additional 41,060 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Copart were worth $11,076,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CPRT. Brighton Jones LLC boosted its position in shares of Copart by 92.1% during the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock valued at $816,000 after acquiring an additional 6,817 shares in the last quarter. Geneos Wealth Management Inc. raised its position in Copart by 365.8% in the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock worth $63,000 after purchasing an additional 878 shares in the last quarter. Jump Financial LLC acquired a new position in Copart in the second quarter worth about $2,677,000. Sei Investments Co. lifted its stake in Copart by 110.0% during the second quarter. Sei Investments Co. now owns 900,330 shares of the business services provider’s stock worth $44,179,000 after purchasing an additional 471,571 shares during the period. Finally, Treasurer of the State of North Carolina boosted its holdings in Copart by 3.5% during the second quarter. Treasurer of the State of North Carolina now owns 413,083 shares of the business services provider’s stock valued at $20,270,000 after purchasing an additional 13,860 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Trading Up 4.2%

NASDAQ:CPRT opened at $30.01 on Friday. The stock has a market capitalization of $27.78 billion, a P/E ratio of 18.64 and a beta of 1.02. Copart, Inc. has a 1 year low of $27.84 and a 1 year high of $50.11. The firm has a 50 day moving average of $31.86 and a 200-day moving average of $35.29.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. Copart had a return on equity of 16.63% and a net margin of 33.48%.The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the company earned $0.42 EPS. Copart’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, analysts forecast that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the business’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total value of $869,747.34. Following the transaction, the chief executive officer owned 79,532 shares of the company’s stock, valued at approximately $2,638,871.76. The trade was a 24.79% 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 hyperlink. Corporate insiders own 9.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Weiss Ratings lowered Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Jefferies Financial Group set a $45.00 price target on Copart in a research note on Friday, May 22nd. Finally, Freedom Capital upgraded Copart to a “strong-buy” rating in a research report on Friday, June 26th. Three equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Copart has a consensus rating of “Moderate Buy” and an average target price of $44.50.

Copart 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.