Copart, Inc. $CPRT Shares Purchased by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC significantly increased its stake in Copart, Inc. by 387.5% during the 2nd quarter, bringing its total holdings to 470,892 shares worth approximately $23.2 million.
• Copart's stock has seen notable interest from institutional investors, with 85.78% of shares currently owned by hedge funds and other institutions.
• The company recently reported earnings of $0.41 per share, beating expectations and reflecting a 2.9% year-over-year revenue increase despite revenue slightly missing analyst estimates.

Wealth Enhancement Advisory Services LLC grew its holdings in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 387.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 470,892 shares of the business services provider's stock after purchasing an additional 374,297 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Copart were worth $23,224,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the company. Atticus Wealth Management LLC purchased a new stake in shares of Copart during the second quarter worth approximately $31,000. Mn Services Vermogensbeheer B.V. increased its stake in shares of Copart by 8.1% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 343,080 shares of the business services provider's stock worth $16,835,000 after buying an additional 25,700 shares during the period. Swedbank AB increased its stake in shares of Copart by 1.8% during the second quarter. Swedbank AB now owns 616,097 shares of the business services provider's stock worth $30,232,000 after buying an additional 10,654 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Copart by 13.7% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 115,789 shares of the business services provider's stock worth $5,682,000 after buying an additional 13,929 shares during the period. Finally, Signal Advisors Wealth LLC increased its stake in shares of Copart by 71.8% during the second quarter. Signal Advisors Wealth LLC now owns 127,035 shares of the business services provider's stock worth $6,234,000 after buying an additional 53,099 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CPRT shares. HSBC set a $62.00 target price on shares of Copart and gave the stock a "buy" rating in a research note on Thursday, September 4th. Stephens dropped their price target 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. Hsbc Global Res upgraded shares of Copart from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 4th. Finally, Robert W. Baird dropped their price target 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. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Copart presently has an average rating of "Moderate Buy" and an average price target of $54.50.

Copart Stock Down 0.5%

Shares of NASDAQ CPRT traded down $0.25 during mid-day trading on Tuesday, hitting $45.14. 4,484,651 shares of the company were exchanged, compared to its average volume of 5,960,690. The stock has a 50 day simple moving average of $47.19 and a 200-day simple moving average of $52.12. Copart, Inc. has a 1-year low of $44.96 and a 1-year high of $64.38. The firm has a market cap of $43.64 billion, a price-to-earnings ratio of 28.22 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 for the quarter, topping the consensus estimate of $0.37 by $0.04. Copart had a return on equity of 18.17% and a net margin of 33.41%.The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the company earned $0.33 earnings per share. The company's revenue for the quarter was up 2.9% on a year-over-year basis. Analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Buying and Selling at Copart

In other Copart news, Director Thomas N. Tryforos sold 228,840 shares of the firm's 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey Liaw sold 24,088 shares of Copart stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total value of $1,118,405.84. Following the transaction, the chief executive officer directly owned 31,527 shares of the company's stock, valued at $1,463,798.61. This trade represents a 43.31% decrease in their position. The disclosure for this sale can be found here. 9.68% of the stock is owned by company insiders.

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.