Marks Group Wealth Management Inc Buys 2,209 Shares of Copart, Inc. (NASDAQ:CPRT)

Marks Group Wealth Management Inc lifted its position in Copart, Inc. (NASDAQ:CPRT) by 1.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 189,703 shares of the business services provider’s stock after purchasing an additional 2,209 shares during the quarter. Copart accounts for approximately 1.1% of Marks Group Wealth Management Inc’s holdings, making the stock its 15th biggest holding. Marks Group Wealth Management Inc’s holdings in Copart were worth $10,887,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Optimum Investment Advisors grew its holdings in Copart by 141.5% during the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after acquiring an additional 300 shares during the period. Eastern Bank bought a new position in shares of Copart in the 3rd quarter worth $29,000. Quarry LP acquired a new stake in shares of Copart during the third quarter worth $29,000. Ashton Thomas Securities LLC acquired a new position in Copart in the third quarter valued at about $33,000. Finally, True Wealth Design LLC lifted its stake 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 buying an additional 608 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lifted their price objective on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th.

Insiders Place Their Bets

In related news, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total value of $16,038,273.17. Following the completion of the sale, the chairman now owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. This trade represents a 1.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 650,213 shares of company stock worth $39,199,813. 9.68% of the stock is currently owned by insiders.

Copart Trading Up 1.0 %

Shares of CPRT opened at $59.23 on Wednesday. The firm’s 50 day moving average is $58.46 and its 200-day moving average is $55.29. Copart, Inc. has a 12 month low of $48.05 and a 12 month high of $64.38. The stock has a market capitalization of $57.07 billion, a PE ratio of 41.71 and a beta of 1.33.

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

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.