Copart, Inc. $CPRT Shares Sold by Empirical Asset Management LLC

Empirical Asset Management LLC lowered its stake in Copart, Inc. (NASDAQ:CPRT) by 16.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,004 shares of the business services provider’s stock after selling 2,395 shares during the quarter. Empirical Asset Management LLC’s holdings in Copart were worth $589,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GC Wealth Management RIA LLC bought a new stake in Copart in the second quarter worth about $219,000. Sowell Financial Services LLC bought a new stake in Copart in the first quarter worth about $604,000. China Universal Asset Management Co. Ltd. raised its position in Copart by 52.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 23,862 shares of the business services provider’s stock worth $1,350,000 after acquiring an additional 8,181 shares in the last quarter. Private Trust Co. NA raised its position in Copart by 16.5% in the first quarter. Private Trust Co. NA now owns 4,142 shares of the business services provider’s stock worth $234,000 after acquiring an additional 586 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Copart by 15.9% in the first quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider’s stock worth $868,417,000 after acquiring an additional 2,106,656 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CPRT has been the topic of several research reports. Robert W. Baird dropped 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. Hsbc Global Res upgraded shares of Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. Stephens dropped 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. Weiss Ratings restated a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. Finally, HSBC set a $62.00 price objective on Copart and gave the stock a “buy” rating in a 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 given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.50.

Insider Transactions at Copart

In other news, Director Thomas N. Tryforos sold 228,840 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $47.54, for a total value of $10,879,053.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jeffrey Liaw sold 24,283 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total value of $1,087,635.57. Following the completion of the transaction, the chief executive officer owned 31,332 shares in the company, valued at $1,403,360.28. This represents a 43.66% decrease in their position. The disclosure for this sale can be found here. 9.68% of the stock is owned by corporate insiders.

Copart Trading Up 0.6%

NASDAQ CPRT opened at $44.34 on Friday. The stock’s 50-day moving average price is $46.61 and its two-hundred day moving average price is $50.89. The company has a market cap of $42.91 billion, a PE ratio of 27.71 and a beta of 1.03. Copart, Inc. has a 1 year low of $43.32 and a 1 year high of $64.38.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.04. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.14 billion. Copart had a return on equity of 18.17% and a net margin of 33.41%.The business’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 earned $0.33 EPS. Research analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

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.