Copart, Inc. $CPRT is Rockbridge Capital Management LLC’s 7th Largest Position

Rockbridge Capital Management LLC boosted its position in shares of Copart, Inc. (NASDAQ:CPRT) by 3.1% in the second quarter, HoldingsChannel.com reports. The fund owned 247,819 shares of the business services provider’s stock after purchasing an additional 7,548 shares during the period. Copart accounts for 6.9% of Rockbridge Capital Management LLC’s holdings, making the stock its 7th largest position. Rockbridge Capital Management LLC’s holdings in Copart were worth $12,160,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CPRT. Cloud Capital Management LLC purchased a new position in Copart during the 1st quarter valued at about $26,000. Atticus Wealth Management LLC purchased a new position in Copart during the 2nd quarter valued at about $31,000. Ameritas Advisory Services LLC purchased a new position in Copart during the 2nd quarter valued at about $31,000. Accent Capital Management LLC purchased a new position in Copart during the 1st quarter valued at about $36,000. Finally, GFG Capital LLC acquired a new stake in Copart in the 2nd quarter valued at about $37,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CPRT has been the topic of a number of analyst reports. Stephens reduced their price target on Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Friday, September 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a research report on Wednesday, October 8th. Hsbc Global Res raised Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. HSBC set a $62.00 price target on Copart and gave the company a “buy” rating in a research report on Thursday, September 4th. Finally, Robert W. Baird reduced their price target on Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.50.

Copart Stock Down 0.5%

CPRT opened at $44.56 on Thursday. The firm has a market cap of $43.12 billion, a price-to-earnings ratio of 27.85 and a beta of 1.03. Copart, Inc. has a 52 week low of $43.71 and a 52 week high of $64.38. The business’s 50 day moving average is $46.68 and its two-hundred day moving average is $51.06.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.14 billion. Copart had a return on equity of 18.17% and a net margin of 33.41%.The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 earnings per share. Equities analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Activity

In other news, Director Thomas N. Tryforos sold 228,840 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $47.54, for a total value of $10,879,053.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.