Summit Financial LLC Boosts Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Summit Financial LLC increased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 9.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 5,481 shares of the business services provider’s stock after buying an additional 492 shares during the quarter. Summit Financial LLC’s holdings in Copart were worth $315,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CPRT. Wellington Management Group LLP raised its stake in shares of Copart by 14.4% during the 4th quarter. Wellington Management Group LLP now owns 14,157,306 shares of the business services provider’s stock worth $812,488,000 after buying an additional 1,785,741 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in Copart by 16.9% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 77,234 shares of the business services provider’s stock valued at $4,432,000 after purchasing an additional 11,152 shares in the last quarter. RWA Wealth Partners LLC acquired a new stake in shares of Copart in the fourth quarter valued at about $804,000. Schroder Investment Management Group increased its stake in shares of Copart by 0.8% during the fourth quarter. Schroder Investment Management Group now owns 998,021 shares of the business services provider’s stock worth $57,276,000 after purchasing an additional 7,868 shares in the last quarter. Finally, Allianz SE acquired a new position in shares of Copart during the 4th quarter worth about $2,859,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analysts Set New Price Targets

Separately, Argus cut Copart from a “buy” rating to a “hold” rating in a report on Friday, March 14th.

Copart Stock Performance

NASDAQ CPRT opened at $56.64 on Friday. Copart, Inc. has a one year low of $48.05 and a one year high of $64.38. The business has a fifty day moving average price of $56.29 and a 200 day moving average price of $56.34. The company has a market cap of $54.72 billion, a P/E ratio of 38.01 and a beta of 1.22.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. As a group, sell-side analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Buying and Selling at Copart

In other Copart news, Director Daniel J. Englander sold 235,480 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.84, for a total value of $13,384,683.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James E. Meeks sold 100,000 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total transaction of $5,400,000.00. The disclosure for this sale can be found here. 9.68% of the stock is owned by insiders.

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.