Vise Technologies Inc. Takes Position in Copart, Inc. (NASDAQ:CPRT)

Vise Technologies Inc. bought a new position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 6,588 shares of the business services provider's stock, valued at approximately $378,000.

Several other institutional investors also recently added to or reduced their stakes in the business. Sandy Spring Bank increased its holdings in Copart by 59.5% in the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider's stock valued at $27,000 after buying an additional 176 shares during the period. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Copart in the 4th quarter valued at $45,000. Curio Wealth LLC bought a new stake in Copart in the fourth quarter valued at $52,000. Itau Unibanco Holding S.A. raised its stake in Copart by 340.4% during the fourth quarter. Itau Unibanco Holding S.A. now owns 916 shares of the business services provider's stock worth $53,000 after acquiring an additional 708 shares in the last quarter. Finally, Continuum Advisory LLC increased its position in shares of Copart by 26.2% during the 4th quarter. Continuum Advisory LLC now owns 1,214 shares of the business services provider's stock worth $70,000 after purchasing an additional 252 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CPRT. Argus lowered shares of Copart from a "buy" rating to a "hold" rating in a research report on Friday, March 14th. 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 report on Friday, May 23rd.

Insiders Place Their Bets

In related news, Director Steven D. Cohan sold 5,003 shares of the business's stock in a transaction dated Friday, April 11th. The stock was sold at an average price of $60.01, for a total transaction of $300,230.03. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James E. Meeks sold 100,000 shares of Copart stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total value of $5,400,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 200,000 shares of company stock worth $11,401,000. Corporate insiders own 9.68% of the company's stock.

Copart Price Performance

CPRT traded up $0.06 during trading on Friday, hitting $51.48. The stock had a trading volume of 15,252,092 shares, compared to its average volume of 4,639,296. The firm has a market cap of $49.73 billion, a price-to-earnings ratio of 34.55 and a beta of 1.20. The company has a 50 day moving average price of $58.77 and a 200-day moving average price of $58.14. Copart, Inc. has a one year low of $48.05 and a one year high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The business services provider reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.23 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. The firm's revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.39 EPS. As a group, sell-side analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal 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.