Pittenger & Anderson Inc. Increases Holdings in Copart, Inc. $CPRT

Pittenger & Anderson Inc. grew its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 0.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 122,177 shares of the business services provider’s stock after buying an additional 1,046 shares during the period. Pittenger & Anderson Inc.’s holdings in Copart were worth $5,995,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Copart Stock Up 0.9%

CPRT opened at $44.76 on Tuesday. The business has a 50 day moving average price of $46.57 and a two-hundred day moving average price of $50.74. The company has a market cap of $43.32 billion, a PE ratio of 27.98 and a beta of 1.03. Copart, Inc. has a 52 week low of $43.32 and a 52 week high of $64.38.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.37 by $0.04. The firm had revenue of $1.13 billion during 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 firm’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.33 EPS. As a group, sell-side analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Activity at Copart

In other Copart news, CEO Jeffrey Liaw sold 24,283 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the transaction, the chief executive officer owned 31,332 shares in the company, valued at approximately $1,403,360.28. The trade was a 43.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 disclosure for this sale can be found here. 9.68% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.