Hennion & Walsh Asset Management Inc. Buys 3,411 Shares of Copart, Inc. (NASDAQ:CPRT)

Hennion & Walsh Asset Management Inc. lifted its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 13.5% during the 4th quarter, HoldingsChannel reports. The firm owned 28,643 shares of the business services provider’s stock after acquiring an additional 3,411 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Copart were worth $1,644,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Optimum Investment Advisors boosted its holdings in shares of Copart by 141.5% during the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 300 shares in the last quarter. Eastern Bank bought a new position in Copart in the third quarter valued at about $29,000. Quarry LP acquired a new stake in shares of Copart during the third quarter valued at about $29,000. Ashton Thomas Securities LLC bought a new stake in shares of Copart during the third quarter worth about $33,000. Finally, True Wealth Design LLC boosted its position in Copart by 1,737.1% during the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after buying an additional 608 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Chairman A Jayson Adair sold 251,423 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total value of $16,038,273.17. Following the completion of the sale, the chairman now owns 14,436,557 shares in the company, valued at $920,907,971.03. This represents a 1.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Thomas N. Tryforos sold 83,310 shares of Copart stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $61.86, for a total value of $5,153,556.60. Following the completion of the sale, the director now directly owns 7,850 shares of the company’s stock, valued at approximately $485,601. This trade represents a 91.39 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 650,213 shares of company stock worth $39,199,813. Insiders own 9.68% of the company’s stock.

Copart Stock Performance

Copart stock opened at $56.90 on Friday. The firm has a 50 day moving average price of $59.07 and a two-hundred day moving average price of $54.71. Copart, Inc. has a 52-week low of $47.51 and a 52-week high of $64.38. The firm has a market cap of $54.82 billion, a price-to-earnings ratio of 40.07 and a beta of 1.33.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. Copart had a net margin of 31.92% and a return on equity of 18.96%. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the firm posted $0.34 EPS. The company’s quarterly revenue was up 12.4% on a year-over-year basis. As a group, equities research analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lifted their price target on shares of Copart from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Tuesday, November 19th.

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.