Ethic Inc. Lowers Stock Holdings in Copart, Inc. $CPRT

Key Points

• Ethic Inc. reduced its holdings in Copart, Inc. by 9.6% in the second quarter, now owning 153,282 shares valued at approximately $7.39 million.
• During recent trading, Copart's stock opened at $44.93 and has experienced a one year low of $43.32 and a high of $64.38.
• In recent earnings, Copart reported $0.41 EPS, surpassing expectations, with revenues of $1.13 billion, reflecting a 2.9% year-over-year growth.

Ethic Inc. lowered its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 9.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 153,282 shares of the business services provider's stock after selling 16,222 shares during the quarter. Ethic Inc.'s holdings in Copart were worth $7,385,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CPRT. Brighton Jones LLC boosted its position in Copart by 92.1% during 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. GAMMA Investing LLC boosted its position in Copart by 21.5% during the first quarter. GAMMA Investing LLC now owns 20,352 shares of the business services provider's stock worth $1,152,000 after purchasing an additional 3,598 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Copart by 10.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 96,595 shares of the business services provider's stock worth $5,466,000 after purchasing an additional 8,982 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Copart by 13.1% in the first quarter. Blue Trust Inc. now owns 1,510 shares of the business services provider's stock valued at $85,000 after acquiring an additional 175 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of Copart by 1.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 30,558 shares of the business services provider's stock worth $1,729,000 after acquiring an additional 509 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company's stock.

Copart Stock Performance

NASDAQ:CPRT opened at $44.93 on Thursday. Copart, Inc. has a one year low of $43.32 and a one year high of $64.38. The stock has a market cap of $43.48 billion, a PE ratio of 28.08 and a beta of 1.03. The stock has a 50 day moving average price of $46.48 and a 200 day moving average price of $50.66.

Copart (NASDAQ:CPRT - Get Free Report) last posted its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 EPS 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 during the quarter, compared to analysts' expectations of $1.14 billion. During the same quarter last year, the firm earned $0.33 earnings per share. The business's revenue for the quarter was up 2.9% on a year-over-year basis. As a group, analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CPRT has been the topic of a number of research analyst reports. Robert W. Baird lowered 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. 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 stock a "buy" rating in a research note on Thursday, September 4th. Stephens lowered 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. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Copart in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $54.50.

Insider Buying and Selling at Copart

In other Copart news, Director Thomas N. Tryforos sold 228,840 shares of the firm's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $47.54, for a total transaction of $10,879,053.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey Liaw sold 24,283 shares of the firm's stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total value of $1,087,635.57. Following the sale, the chief executive officer directly owned 31,332 shares of the company's stock, valued at approximately $1,403,360.28. This trade represents a 43.66% decrease in their position. The disclosure for this sale can be found here. 9.68% of the stock is owned by company insiders.

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.

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