Envestnet Portfolio Solutions Inc. Boosts Stock Position in Copart, Inc. (NASDAQ:CPRT)

Envestnet Portfolio Solutions Inc. grew its stake in Copart, Inc. (NASDAQ:CPRT) by 6.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 163,326 shares of the business services provider’s stock after purchasing an additional 9,400 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Copart were worth $9,373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Natixis Advisors LLC lifted its holdings in Copart by 22.8% in the fourth quarter. Natixis Advisors LLC now owns 1,584,597 shares of the business services provider’s stock valued at $90,940,000 after acquiring an additional 294,099 shares during the last quarter. Copperwynd Financial LLC lifted its holdings in Copart by 8.2% in the fourth quarter. Copperwynd Financial LLC now owns 50,303 shares of the business services provider’s stock valued at $2,887,000 after acquiring an additional 3,809 shares during the last quarter. Postrock Partners LLC acquired a new position in Copart in the fourth quarter valued at approximately $1,732,000. Northwest Wealth Management LLC lifted its holdings in Copart by 81.1% in the fourth quarter. Northwest Wealth Management LLC now owns 9,339 shares of the business services provider’s stock valued at $536,000 after acquiring an additional 4,181 shares during the last quarter. Finally, Renasant Bank lifted its holdings in Copart by 26.4% in the fourth quarter. Renasant Bank now owns 9,892 shares of the business services provider’s stock valued at $568,000 after acquiring an additional 2,064 shares during the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. JPMorgan Chase & Co. upped 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. Argus cut Copart from a “buy” rating to a “hold” rating in a research note on Friday.

Copart Stock Up 2.1 %

NASDAQ:CPRT opened at $53.75 on Tuesday. The stock’s fifty day moving average is $56.65 and its two-hundred day moving average is $56.02. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38. The stock has a market capitalization of $51.93 billion, a price-to-earnings ratio of 36.07 and a beta of 1.30.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Copart had a return on equity of 19.31% and a net margin of 32.27%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. On average, sell-side analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Transactions at Copart

In related news, Director Matt Blunt sold 50,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total value of $2,883,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $56.84, for a total value of $13,384,683.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 315,480 shares of company stock valued at $18,007,983. 9.68% of the stock is currently owned by company insiders.

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.