Advisor Resource Council Takes Position in Copart, Inc. (NASDAQ:CPRT)

Advisor Resource Council acquired a new position in Copart, Inc. (NASDAQ:CPRT - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 38,421 shares of the business services provider's stock, valued at approximately $2,174,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Sandy Spring Bank grew its position in Copart by 59.5% during the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock valued at $27,000 after acquiring an additional 176 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of Copart in the 4th quarter valued at $31,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Copart during the 4th quarter valued at $45,000. Versant Capital Management Inc grew its holdings in shares of Copart by 1,567.9% during the 1st quarter. Versant Capital Management Inc now owns 884 shares of the business services provider's stock valued at $50,000 after purchasing an additional 831 shares during the last quarter. Finally, Curio Wealth LLC purchased a new position in Copart in the 4th quarter worth $52,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Copart

In related news, Director Steven D. Cohan sold 94,997 shares of Copart stock in a transaction on Monday, April 14th. The shares were sold at an average price of $60.01, for a total value of $5,700,769.97. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 9.68% of the stock is owned by corporate insiders.

Copart Stock Up 0.2%

Shares of Copart stock traded up $0.09 during trading on Friday, reaching $47.97. 14,395,030 shares of the stock were exchanged, compared to its average volume of 4,872,114. The firm has a market cap of $46.38 billion, a price-to-earnings ratio of 31.56 and a beta of 1.10. Copart, Inc. has a 1 year low of $47.70 and a 1 year high of $64.38. The stock's fifty day moving average is $56.58 and its 200 day moving average is $56.95.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. The business had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.23 billion. Copart had a return on equity of 18.20% and a net margin of 32.21%. The business's revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the business posted $0.39 EPS. Equities analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Argus lowered shares of Copart from a "buy" rating to a "hold" rating in a report on Friday, March 14th.

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.