Envestnet Portfolio Solutions Inc. Raises Stake in Copart, Inc. $CPRT

Envestnet Portfolio Solutions Inc. increased its stake in Copart, Inc. (NASDAQ:CPRT) by 29.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 148,771 shares of the business services provider’s stock after purchasing an additional 33,999 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Copart were worth $6,690,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CPRT. Brighton Jones LLC boosted its stake in shares of Copart by 92.1% during the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock worth $816,000 after acquiring an additional 6,817 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Copart by 365.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock valued at $63,000 after purchasing an additional 878 shares in the last quarter. AdvisorNet Financial Inc raised its holdings in Copart by 504.7% during the second quarter. AdvisorNet Financial Inc now owns 2,183 shares of the business services provider’s stock worth $107,000 after purchasing an additional 1,822 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Copart by 7.6% during the second quarter. State of Alaska Department of Revenue now owns 125,268 shares of the business services provider’s stock worth $6,146,000 after purchasing an additional 8,890 shares in the last quarter. Finally, ORG Partners LLC grew its holdings in Copart by 126.0% in the second quarter. ORG Partners LLC now owns 1,060 shares of the business services provider’s stock valued at $52,000 after purchasing an additional 591 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. cut their price target on Copart from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, November 24th. Barclays reissued an “underweight” rating and set a $33.00 price objective (up from $32.00) on shares of Copart in a research note on Friday, November 21st. Robert W. Baird lowered their target price on Copart from $55.00 to $52.00 and set an “outperform” rating on the stock in a report on Friday, November 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Copart in a research report on Wednesday, October 8th. Finally, CJS Securities upgraded Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.60.

Copart Stock Up 0.3%

CPRT stock opened at $41.40 on Friday. The stock has a market capitalization of $40.08 billion, a price-to-earnings ratio of 25.24 and a beta of 1.10. Copart, Inc. has a 52-week low of $37.41 and a 52-week high of $63.85. The stock’s fifty day simple moving average is $39.53 and its 200-day simple moving average is $43.57.

Copart (NASDAQ:CPRT) last released its earnings results 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. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.18 billion. Copart had a return on equity of 17.78% and a net margin of 34.24%.The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.37 earnings per share. As a group, analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Activity at Copart

In other Copart news, Director Thomas N. Tryforos sold 100,000 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total transaction of $3,907,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jeffrey Liaw sold 25,137 shares of Copart stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the completion of the transaction, the chief executive officer owned 55,970 shares in the company, valued at approximately $2,248,314.90. This trade represents a 30.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 9.60% of the company’s stock.

Copart Profile

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.