IHT Wealth Management LLC Grows Position in Copart, Inc. (NASDAQ:CPRT)

IHT Wealth Management LLC increased its position in Copart, Inc. (NASDAQ:CPRT) by 67.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 8,600 shares of the business services provider’s stock after purchasing an additional 3,462 shares during the period. IHT Wealth Management LLC’s holdings in Copart were worth $451,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Wedmont Private Capital increased its stake in shares of Copart by 3.2% in the 2nd quarter. Wedmont Private Capital now owns 17,330 shares of the business services provider’s stock worth $963,000 after acquiring an additional 539 shares in the last quarter. SJS Investment Consulting Inc. increased its stake in shares of Copart by 76.0% during the second quarter. SJS Investment Consulting Inc. now owns 2,014 shares of the business services provider’s stock valued at $109,000 after purchasing an additional 870 shares in the last quarter. ORG Partners LLC lifted its holdings in shares of Copart by 1,552.5% during the second quarter. ORG Partners LLC now owns 4,280 shares of the business services provider’s stock valued at $228,000 after purchasing an additional 4,021 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of Copart by 10.0% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 132,811 shares of the business services provider’s stock worth $7,193,000 after purchasing an additional 12,025 shares in the last quarter. Finally, Epic Trust Investment Advisors LLC boosted its position in shares of Copart by 4.1% in the 2nd quarter. Epic Trust Investment Advisors LLC now owns 6,443 shares of the business services provider’s stock worth $349,000 after purchasing an additional 255 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Copart Stock Up 0.3 %

NASDAQ:CPRT opened at $62.08 on Monday. The stock has a market cap of $59.82 billion, a price-to-earnings ratio of 43.72 and a beta of 1.31. The company’s 50 day moving average price is $56.07 and its 200-day moving average price is $53.76. Copart, Inc. has a 52 week low of $46.21 and a 52 week high of $64.38.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, meeting the consensus estimate of $0.37. Copart had a return on equity of 18.96% and a net margin of 31.92%. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same period last year, the business posted $0.34 EPS. The company’s revenue was up 12.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Activity at Copart

In other Copart news, Chairman A Jayson Adair sold 251,423 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the transaction, the chairman now owns 14,436,557 shares in the company, valued at approximately $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 accessible through this hyperlink. 9.68% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CPRT has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price objective on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, November 19th. Robert W. Baird lowered their price target on Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, September 5th.

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.