Copart, Inc. (NASDAQ:CPRT) Shares Bought by Lord & Richards Wealth Management LLC

Lord & Richards Wealth Management LLC raised its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 159.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,832 shares of the business services provider's stock after purchasing an additional 15,891 shares during the period. Copart accounts for about 1.7% of Lord & Richards Wealth Management LLC's portfolio, making the stock its 13th biggest position. Lord & Richards Wealth Management LLC's holdings in Copart were worth $1,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Cloud Capital Management LLC bought a new position in Copart in the first quarter worth approximately $26,000. Sandy Spring Bank lifted its stake in Copart by 59.5% in the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock worth $27,000 after acquiring an additional 176 shares during the period. Sunbelt Securities Inc. bought a new position in Copart during the 4th quarter worth about $31,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Copart in the 4th quarter valued at about $45,000. Finally, Versant Capital Management Inc boosted its stake in shares of Copart by 1,567.9% during the first 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 in the last quarter. Hedge funds and other institutional investors own 85.78% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on CPRT shares. JPMorgan Chase & Co. dropped their target price on Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Stephens began coverage on Copart in a report on Tuesday, July 8th. They set an "equal weight" rating and a $50.00 price objective for the company.

Copart Price Performance

CPRT traded down $1.23 during trading on Tuesday, reaching $45.90. 18,586,187 shares of the company's stock were exchanged, compared to its average volume of 6,312,575. The stock has a market capitalization of $44.38 billion, a P/E ratio of 31.01 and a beta of 1.07. The company's fifty day simple moving average is $53.03 and its 200-day simple moving average is $55.68. Copart, Inc. has a 1 year low of $45.59 and a 1 year high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.23 billion. Copart had a return on equity of 18.20% and a net margin of 32.21%. Copart's revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 earnings per share. Equities analysts forecast that Copart, Inc. will post 1.57 EPS 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.