Integrated Wealth Concepts LLC Acquires 11,961 Shares of Copart, Inc. $CPRT

Key Points

• Integrated Wealth Concepts LLC increased its stake in Copart, Inc. by 10.2% during the first quarter, owning 129,132 shares valued at $7.3 million.
• Copart's stock saw a decrease of 2.8% recently, with its current price at $48.57, while the company has a market capitalization of $46.96 billion.
• The company reported $0.41 earnings per share for the last quarter, surpassing estimates, but with a revenue slightly below expectations at $1.13 billion.

Integrated Wealth Concepts LLC grew its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 10.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 129,132 shares of the business services provider's stock after purchasing an additional 11,961 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Copart were worth $7,308,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of CPRT. Brighton Jones LLC boosted its stake in Copart by 92.1% in the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider's stock worth $816,000 after purchasing an additional 6,817 shares in the last quarter. EP Wealth Advisors LLC lifted its stake in shares of Copart by 2.9% during the fourth quarter. EP Wealth Advisors LLC now owns 9,724 shares of the business services provider's stock valued at $558,000 after acquiring an additional 274 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of Copart by 3.4% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 75,899 shares of the business services provider's stock valued at $4,356,000 after acquiring an additional 2,515 shares during the period. D. E. Shaw & Co. Inc. lifted its stake in shares of Copart by 604.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 446,534 shares of the business services provider's stock valued at $25,627,000 after acquiring an additional 383,186 shares during the period. Finally, Fiduciary Trust Co acquired a new position in shares of Copart during the fourth quarter valued at $211,000. Institutional investors and hedge funds own 85.78% of the company's stock.

Insider Activity

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of the stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total value of $1,118,405.84. Following the completion of the sale, the chief executive officer directly owned 31,527 shares in the company, valued at $1,463,798.61. This represents a 43.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.68% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CPRT has been the topic of several research reports. Hsbc Global Res raised Copart from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 4th. HSBC set a $62.00 price target on Copart and gave the company a "buy" rating in a research note on Thursday, September 4th. Stephens cut their price target on Copart from $50.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Friday, September 5th. JPMorgan Chase & Co. cut their price target on Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Finally, Robert W. Baird cut their price target on Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research note on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Copart has an average rating of "Moderate Buy" and an average target price of $54.50.

Copart Stock Performance

NASDAQ:CPRT traded down $0.22 during mid-day trading on Friday, hitting $48.68. The company had a trading volume of 999,233 shares, compared to its average volume of 5,800,369. Copart, Inc. has a fifty-two week low of $45.05 and a fifty-two week high of $64.38. The business's fifty day moving average is $47.41 and its two-hundred day moving average is $52.56. The firm has a market cap of $47.07 billion, a P/E ratio of 30.43 and a beta of 1.03.

Copart (NASDAQ:CPRT - Get Free Report) last released its earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.04. Copart had a return on equity of 18.17% and a net margin of 33.41%.The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the firm posted $0.33 earnings per share. The company's quarterly revenue was up 2.9% on a year-over-year basis. Equities analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

About Copart

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.