Envestnet Asset Management Inc. Acquires 22,965 Shares of Copart, Inc. $CPRT

Envestnet Asset Management Inc. raised its holdings in Copart, Inc. (NASDAQ:CPRT) by 0.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,172,552 shares of the business services provider’s stock after acquiring an additional 22,965 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Copart were worth $142,670,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CPRT. Stephens Inc. AR increased its position in shares of Copart by 0.7% in the second quarter. Stephens Inc. AR now owns 30,312 shares of the business services provider’s stock valued at $1,487,000 after acquiring an additional 218 shares during the last quarter. Allworth Financial LP boosted its position in Copart by 0.8% during the second quarter. Allworth Financial LP now owns 28,978 shares of the business services provider’s stock valued at $1,422,000 after purchasing an additional 228 shares during the last quarter. Blue Trust Inc. grew its stake in Copart by 15.4% in the second quarter. Blue Trust Inc. now owns 1,742 shares of the business services provider’s stock valued at $85,000 after purchasing an additional 232 shares in the last quarter. PDS Planning Inc increased its position in shares of Copart by 4.9% during the 3rd quarter. PDS Planning Inc now owns 5,196 shares of the business services provider’s stock worth $234,000 after purchasing an additional 242 shares during the last quarter. Finally, Hollencrest Capital Management raised its stake in shares of Copart by 13.2% during the 3rd quarter. Hollencrest Capital Management now owns 2,088 shares of the business services provider’s stock worth $94,000 after purchasing an additional 244 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Copart Trading Up 1.2%

Copart stock opened at $40.36 on Friday. The company has a market capitalization of $39.07 billion, a price-to-earnings ratio of 24.61 and a beta of 1.08. Copart, Inc. has a 12 month low of $37.41 and a 12 month high of $63.85. The stock’s 50 day moving average is $39.58 and its 200-day moving average is $43.14.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, November 20th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. The business had revenue of $1.16 billion during 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 quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the company posted $0.37 EPS. As a group, equities research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jeffrey Liaw sold 25,137 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 55,970 shares of the company’s stock, valued at approximately $2,248,314.90. This trade represents a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas N. Tryforos sold 100,000 shares of Copart stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total transaction of $3,907,000.00. The SEC filing for this sale provides additional information. 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.