Charles Schwab Investment Management Inc. Acquires 109,445 Shares of Copart, Inc. $CPRT

Charles Schwab Investment Management Inc. boosted its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 1.9% during the second quarter, Holdings Channel reports. The fund owned 5,851,671 shares of the business services provider’s stock after acquiring an additional 109,445 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Copart were worth $287,141,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Atticus Wealth Management LLC bought a new stake in shares of Copart during the second quarter valued at approximately $31,000. Ameritas Advisory Services LLC acquired a new position in Copart during the 2nd quarter worth $31,000. Creekmur Asset Management LLC lifted its holdings in Copart by 1,063.0% during the 2nd quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock worth $31,000 after buying an additional 574 shares in the last quarter. Accent Capital Management LLC bought a new position in Copart in the 1st quarter valued at $36,000. Finally, Bank of Jackson Hole Trust increased its stake in shares of Copart by 83.8% in the 2nd quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock valued at $36,000 after buying an additional 335 shares during the period. 85.78% of the stock is owned by institutional investors.

Insider Buying and Selling at Copart

In other Copart news, CEO Jeffrey Liaw sold 24,283 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was 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 directly owned 31,332 shares of the company’s stock, valued at approximately $1,403,360.28. The trade was a 43.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas N. Tryforos sold 228,840 shares of the 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 disclosure for this sale is available in the SEC filing. 9.60% of the stock is owned by insiders.

Copart Price Performance

Shares of CPRT stock opened at $38.91 on Tuesday. The stock has a market cap of $37.66 billion, a PE ratio of 24.32 and a beta of 1.06. The stock has a 50-day moving average of $43.57 and a 200-day moving average of $47.62. Copart, Inc. has a one year low of $38.67 and a one year high of $64.38.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, November 20th. The business services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. Copart had a net margin of 33.41% and a return on equity of 18.17%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the firm earned $0.37 EPS. Copart’s quarterly revenue was up .7% compared to the same quarter last year. As a group, research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Barclays reaffirmed an “underweight” rating and set a $33.00 price target (up previously from $32.00) on shares of Copart in a research note on Friday. 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 reduced their target price on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Friday, September 5th. Robert W. Baird lowered their price target on shares of Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday. Finally, JPMorgan Chase & Co. cut their price objective on shares of Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Monday. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $47.60.

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.