TD Asset Management Inc Sells 192,017 Shares of Copart, Inc. $CPRT

Key Points

• TD Asset Management Inc has reduced its holdings in Copart, Inc. by 5.1%, selling 192,017 shares during the second quarter, leaving it with 3,573,226 shares valued at approximately $175 million.
• Insider activity included the sale of 228,840 shares by Director Thomas N. Tryforos for about $10.88 million on September 15th.
• Copart reported earnings of $0.41 per share for the latest quarter, exceeding estimates, with a revenue of $1.13 billion, up 2.9% year-over-year.

TD Asset Management Inc lessened its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 5.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,573,226 shares of the business services provider's stock after selling 192,017 shares during the period. TD Asset Management Inc owned approximately 0.37% of Copart worth $175,338,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC grew 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 buying an additional 6,817 shares in the last quarter. GAMMA Investing LLC grew 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 buying an additional 3,598 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew 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 buying an additional 8,982 shares in the last quarter. Brown Miller Wealth Management LLC grew its position in Copart by 8.2% during the first quarter. Brown Miller Wealth Management LLC now owns 5,194 shares of the business services provider's stock worth $294,000 after buying an additional 394 shares in the last quarter. Finally, Sowell Financial Services LLC acquired a new stake in Copart during the first quarter worth approximately $604,000. Institutional investors own 85.78% of the company's stock.

Insider Activity at Copart

In other news, Director Thomas N. Tryforos sold 228,840 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $47.54, for a total value of $10,879,053.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 9.68% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Hsbc Global Res raised Copart from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 4th. Stephens reduced their price target on Copart from $50.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Friday, September 5th. Robert W. Baird reduced their price target on Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, July 17th. HSBC set a $62.00 price target on Copart and gave the stock a "buy" rating in a research report on Thursday, September 4th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Copart in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $54.50.

Copart Stock Performance

Shares of CPRT stock opened at $44.77 on Wednesday. The stock's fifty day moving average price is $46.73 and its two-hundred day moving average price is $51.11. The company has a market cap of $43.33 billion, a PE ratio of 27.98 and a beta of 1.03. Copart, Inc. has a fifty-two week low of $43.71 and a fifty-two week high of $64.38.

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

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