Wedmont Private Capital Has $952,000 Stock Position in Copart, Inc. (NASDAQ:CPRT)

Wedmont Private Capital increased its stake in Copart, Inc. (NASDAQ:CPRT) by 1.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,791 shares of the business services provider’s stock after purchasing an additional 243 shares during the period. Wedmont Private Capital’s holdings in Copart were worth $952,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of CPRT. Rise Advisors LLC bought a new position in shares of Copart in the first quarter worth $28,000. Fortitude Family Office LLC bought a new position in shares of Copart in the fourth quarter worth $34,000. C M Bidwell & Associates Ltd. increased its position in shares of Copart by 100.0% in the third quarter. C M Bidwell & Associates Ltd. now owns 872 shares of the business services provider’s stock worth $38,000 after purchasing an additional 436 shares during the period. Trust Co. of Vermont bought a new position in shares of Copart in the fourth quarter worth $38,000. Finally, McGlone Suttner Wealth Management Inc. bought a new position in shares of Copart in the fourth quarter worth $40,000. Institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling at Copart

In other news, Chairman A Jayson Adair sold 600,000 shares of Copart stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the sale, the chairman now directly owns 19,687,980 shares of the company’s stock, valued at $1,137,374,604.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 10.23% of the company’s stock.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. raised their price target on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Copart currently has a consensus rating of “Hold” and a consensus price target of $51.00.

Copart Stock Up 0.4 %

Copart stock opened at $54.24 on Friday. Copart, Inc. has a 12-month low of $42.41 and a 12-month high of $58.58. The business’s 50-day moving average price is $54.18 and its two-hundred day moving average price is $52.36. The stock has a market cap of $52.20 billion, a PE ratio of 38.20 and a beta of 1.26.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, May 16th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Copart had a return on equity of 20.80% and a net margin of 33.33%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the business posted $0.36 earnings per share. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. As a group, analysts expect that Copart, Inc. will post 1.43 earnings per share for the current year.

About Copart

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.