Marks Group Wealth Management Inc Has $9.44 Million Holdings in Copart, Inc. $CPRT

Marks Group Wealth Management Inc lessened its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 0.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 192,302 shares of the business services provider’s stock after selling 452 shares during the period. Marks Group Wealth Management Inc’s holdings in Copart were worth $9,436,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CPRT. Nuveen LLC acquired a new position in shares of Copart during the 1st quarter worth approximately $267,723,000. Fiera Capital Corp boosted its position in shares of Copart by 195.6% during the 1st quarter. Fiera Capital Corp now owns 3,992,610 shares of the business services provider’s stock worth $225,942,000 after acquiring an additional 2,642,100 shares in the last quarter. PineStone Asset Management Inc. boosted its position in shares of Copart by 56.4% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,407,471 shares of the business services provider’s stock worth $314,415,000 after acquiring an additional 2,310,067 shares in the last quarter. Amundi boosted its position in shares of Copart by 32.5% during the 1st quarter. Amundi now owns 9,380,026 shares of the business services provider’s stock worth $531,256,000 after acquiring an additional 2,299,192 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Copart by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider’s stock worth $5,900,295,000 after acquiring an additional 2,134,890 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Up 1.2%

Shares of NASDAQ CPRT opened at $45.11 on Monday. Copart, Inc. has a twelve month low of $44.23 and a twelve month high of $64.38. The firm has a fifty day simple moving average of $46.97 and a 200 day simple moving average of $51.61. The company has a market capitalization of $43.65 billion, a PE ratio of 28.19 and a beta of 1.03.

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of the firm’s stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total value 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. This trade represents a 43.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Thomas N. Tryforos sold 228,840 shares of the firm’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $47.54, for a total transaction of $10,879,053.60. The disclosure for this sale can be found here. Company insiders own 9.68% of the company’s stock.

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.