CW Advisors LLC Reduces Stock Position in Copart, Inc. $CPRT

Key Points

• CW Advisors LLC reduced its holdings in Copart, Inc. by 2.7%, selling 9,382 shares during the first quarter, bringing their total to 339,046 shares valued at approximately $19.17 million.
• Copart reported $0.42 EPS for the recent quarter, matching analysts' expectations, with revenue of $1.21 billion, which was slightly below the consensus estimate of $1.23 billion.
• Copart's stock has a current average rating of "Hold" with a target price of $53.33, following multiple adjustments from analysts, including a cut in price objective from $64.00 to $55.00.

CW Advisors LLC decreased its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 339,046 shares of the business services provider's stock after selling 9,382 shares during the quarter. CW Advisors LLC's holdings in Copart were worth $19,174,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CPRT. Brighton Jones LLC grew its stake in shares of Copart by 92.1% in 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. NewEdge Advisors LLC grew its stake in shares of Copart by 10.3% in the 4th quarter. NewEdge Advisors LLC now owns 23,518 shares of the business services provider's stock worth $1,350,000 after acquiring an additional 2,191 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Copart by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,751,965 shares of the business services provider's stock worth $157,958,000 after acquiring an additional 81,971 shares in the last quarter. MML Investors Services LLC grew its stake in shares of Copart by 3.3% in the 4th quarter. MML Investors Services LLC now owns 158,022 shares of the business services provider's stock worth $9,069,000 after acquiring an additional 4,985 shares in the last quarter. Finally, TD Waterhouse Canada Inc. grew its stake in shares of Copart by 54.7% in the 4th quarter. TD Waterhouse Canada Inc. now owns 4,541 shares of the business services provider's stock worth $261,000 after acquiring an additional 1,606 shares in the last quarter. Institutional investors own 85.78% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Stephens assumed coverage on Copart in a research report on Tuesday, July 8th. They set an "equal weight" rating and a $50.00 target price for the company. Finally, Robert W. Baird decreased their target price on Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, July 17th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Copart has a consensus rating of "Hold" and an average price target of $53.33.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the sale, the chief executive officer 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 9.68% of the company's stock.

Copart Stock Up 2.7%

Copart stock traded up $1.28 during midday trading on Friday, reaching $48.96. The stock had a trading volume of 6,224,584 shares, compared to its average volume of 5,603,549. Copart, Inc. has a 12 month low of $45.05 and a 12 month high of $64.38. The firm's 50-day moving average price is $47.34 and its 200 day moving average price is $53.46. The firm has a market capitalization of $47.34 billion, a PE ratio of 32.21 and a beta of 1.04.

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

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.