Wealth Enhancement Advisory Services LLC Has $5.03 Million Position in Copart, Inc. (NASDAQ:CPRT)

Wealth Enhancement Advisory Services LLC lifted its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 22.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 87,613 shares of the business services provider's stock after acquiring an additional 16,072 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Copart were worth $5,028,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPRT. Brighton Jones LLC lifted its holdings in shares of Copart by 92.1% in the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider's stock valued at $816,000 after purchasing an additional 6,817 shares in the last quarter. Chicago Partners Investment Group LLC lifted its stake in Copart by 5.6% in the 4th quarter. Chicago Partners Investment Group LLC now owns 6,568 shares of the business services provider's stock worth $373,000 after acquiring an additional 348 shares in the last quarter. DAVENPORT & Co LLC boosted its position in Copart by 2.2% during the 4th quarter. DAVENPORT & Co LLC now owns 22,363 shares of the business services provider's stock worth $1,283,000 after acquiring an additional 483 shares during the period. Avantra Family Wealth Inc. purchased a new position in Copart during the 4th quarter valued at about $217,000. Finally, Greenleaf Trust boosted its holdings in shares of Copart by 2.3% during the fourth quarter. Greenleaf Trust now owns 17,276 shares of the business services provider's stock worth $991,000 after purchasing an additional 387 shares during the period. Institutional investors and hedge funds own 85.78% of the company's stock.

Copart Trading Down 1.2%

Copart stock traded down $0.63 during mid-day trading on Wednesday, hitting $50.38. 6,312,967 shares of the company's stock were exchanged, compared to its average volume of 4,655,813. The stock has a market cap of $48.67 billion, a P/E ratio of 33.81 and a beta of 1.10. The stock has a 50 day moving average of $58.51 and a two-hundred day moving average of $58.02. Copart, Inc. has a 1-year low of $48.05 and a 1-year high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last posted its earnings results on Thursday, May 22nd. The business services provider reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. Copart had a return on equity of 19.31% and a net margin of 32.27%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the company earned $0.39 EPS. The company's revenue for the quarter was up 7.5% on a year-over-year basis. As a group, research analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Activity

In related news, Director Steven D. Cohan sold 94,997 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $60.01, for a total value of $5,700,769.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James E. Meeks sold 100,000 shares of Copart stock in a transaction dated Wednesday, March 19th. The stock was 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 ninety days, insiders have sold 200,000 shares of company stock valued at $11,401,000. 9.68% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CPRT shares. JPMorgan Chase & Co. cut their target price on shares of Copart from $60.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Argus downgraded Copart from a "buy" rating to a "hold" rating in a research note on Friday, March 14th.

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.