Davidson Capital Management Inc. Acquires 2,523 Shares of Copart, Inc. (NASDAQ:CPRT)

Davidson Capital Management Inc. lifted its stake in Copart, Inc. (NASDAQ:CPRT) by 4.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 61,861 shares of the business services provider’s stock after purchasing an additional 2,523 shares during the quarter. Copart makes up about 0.9% of Davidson Capital Management Inc.’s portfolio, making the stock its 25th largest holding. Davidson Capital Management Inc.’s holdings in Copart were worth $3,550,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Optimum Investment Advisors raised its holdings in Copart by 141.5% in the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after buying an additional 300 shares during the last quarter. Eastern Bank bought a new stake in shares of Copart during the third quarter valued at approximately $29,000. Quarry LP purchased a new position in Copart in the 3rd quarter worth approximately $29,000. Ashton Thomas Securities LLC bought a new position in Copart in the 3rd quarter valued at approximately $33,000. Finally, True Wealth Design LLC boosted its stake 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 valued at $34,000 after purchasing an additional 608 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Transactions at Copart

In other Copart news, Director Thomas N. Tryforos sold 83,310 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $61.86, for a total value of $5,153,556.60. Following the transaction, the director now directly owns 7,850 shares in the company, valued at approximately $485,601. This trade represents a 91.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction on Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. Insiders have sold a total of 650,213 shares of company stock worth $39,199,813 in the last ninety days. Insiders own 9.68% of the company’s stock.

Analysts Set New Price Targets

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

Copart Stock Up 1.0 %

Shares of NASDAQ CPRT opened at $59.23 on Wednesday. The firm’s 50-day moving average price is $58.46 and its 200-day moving average price is $55.29. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The company has a market cap of $57.07 billion, a PE ratio of 41.71 and a beta of 1.33.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share (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 for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the company posted $0.34 earnings per share. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. As a group, equities research analysts anticipate 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.