Somerville Kurt F Takes $419,000 Position in Copart, Inc. (NASDAQ:CPRT)

Somerville Kurt F purchased a new stake in Copart, Inc. (NASDAQ:CPRT - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,400 shares of the business services provider's stock, valued at approximately $419,000.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of Copart by 92.1% during the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider's stock worth $816,000 after buying an additional 6,817 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Copart during the 4th quarter worth approximately $234,000. Teacher Retirement System of Texas lifted its position in shares of Copart by 10.7% during the 4th quarter. Teacher Retirement System of Texas now owns 51,138 shares of the business services provider's stock worth $2,935,000 after buying an additional 4,949 shares in the last quarter. Sei Investments Co. lifted its position in shares of Copart by 8.3% during the 4th quarter. Sei Investments Co. now owns 393,170 shares of the business services provider's stock worth $22,564,000 after buying an additional 30,064 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Copart during the 4th quarter worth approximately $16,890,000. Institutional investors own 85.78% of the company's stock.

Insiders Place Their Bets

In related news, CEO Jeffrey Liaw sold 24,088 shares of Copart stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total value of $1,118,405.84. Following the completion of the transaction, the chief executive officer directly owned 31,527 shares in the company, valued at approximately $1,463,798.61. The trade was a 43.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 9.68% of the company's stock.

Wall Street Analysts Forecast Growth

CPRT has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Copart from $60.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday, May 23rd. Stephens initiated coverage on shares of Copart in a research report on Tuesday, July 8th. They set an "equal weight" rating and a $50.00 target price on the stock. Finally, Robert W. Baird dropped their target price on shares of Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, July 17th.

Copart Trading Up 0.9%

Shares of CPRT stock traded up $0.42 during trading hours on Friday, hitting $46.69. 4,690,048 shares of the company were exchanged, compared to its average volume of 5,710,022. The firm has a fifty day simple moving average of $50.23 and a 200 day simple moving average of $55.02. Copart, Inc. has a 52-week low of $45.52 and a 52-week high of $64.38. The stock has a market capitalization of $45.15 billion, a price-to-earnings ratio of 30.72 and a beta of 1.07.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. Copart had a net margin of 32.21% and a return on equity of 18.20%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the business posted $0.39 EPS. Copart's quarterly revenue was up 7.5% compared to the same quarter last year. Sell-side analysts anticipate 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.