NBT Bank N A NY Increases Stock Position in Copart, Inc. $CPRT

Key Points

• NBT Bank N A NY increased its stake in Copart, Inc. by 277.8% during the second quarter, holding 23,520 shares valued at $1,154,000 according to its recent SEC filing.
• Copart reported $0.41 earnings per share (EPS) for the last quarter, surpassing analysts' expectations of $0.37, with revenues of $1.13 billion, reflecting a 2.9% increase year-over-year.
• Investment firms have shown significant interest in Copart, with 85.78% of the stock owned by institutional investors, indicating strong confidence in the company's performance.

NBT Bank N A NY boosted its stake in Copart, Inc. (NASDAQ:CPRT - Free Report) by 277.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,520 shares of the business services provider's stock after acquiring an additional 17,295 shares during the period. NBT Bank N A NY's holdings in Copart were worth $1,154,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CPRT. Cloud Capital Management LLC purchased a new stake in Copart in the first quarter valued at $26,000. Atticus Wealth Management LLC purchased a new stake in Copart in the second quarter valued at $31,000. Ameritas Advisory Services LLC purchased a new stake in Copart in the second quarter valued at $31,000. Accent Capital Management LLC purchased a new stake in Copart in the first quarter valued at $36,000. Finally, Financial Network Wealth Advisors LLC lifted its position in Copart by 152.6% in the first quarter. Financial Network Wealth Advisors LLC now owns 783 shares of the business services provider's stock valued at $44,000 after acquiring an additional 473 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Stock Up 1.6%

Shares of Copart stock opened at $44.93 on Thursday. Copart, Inc. has a 52-week low of $44.12 and a 52-week high of $64.38. The company's 50-day simple moving average is $46.86 and its 200-day simple moving average is $51.45. The firm has a market cap of $43.48 billion, a price-to-earnings ratio of 28.08 and a beta of 1.03.

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

Insider Activity

In other Copart news, Director Thomas N. Tryforos sold 228,840 shares of the company's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $47.54, for a total transaction of $10,879,053.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffrey Liaw sold 24,088 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer owned 31,527 shares in the company, valued at $1,463,798.61. The trade was a 43.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.68% of the company's stock.

Wall Street Analysts Forecast Growth

CPRT has been the topic of a number of recent research reports. Stephens dropped their price objective on shares of Copart from $50.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Friday, September 5th. Robert W. Baird dropped their price objective on shares of 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 upgraded shares of Copart from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 4th. Weiss Ratings restated a "hold (c)" rating on shares of Copart in a research note on Wednesday. Finally, HSBC set a $62.00 price objective on shares of Copart and gave the company a "buy" rating in a research note on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $54.50.

Copart 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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