Whittier Trust Co. Buys 13,372 Shares of Copart, Inc. $CPRT

Key Points

• Whittier Trust Co. increased its stake in Copart, Inc. by 2.6%, owning a total of 521,203 shares valued at approximately $25.57 million at the end of the last quarter.
• Copart reported a 0.41 EPS for the last quarter, exceeding analyst expectations, while the company's revenue reached $1.13 billion, marking a 2.9% increase year-over-year.
• Institutional investors own 85.78% of Copart's stock, with several firms recently establishing new positions in the company during the first and second quarters.

Whittier Trust Co. increased its stake in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 2.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 521,203 shares of the business services provider's stock after purchasing an additional 13,372 shares during the quarter. Whittier Trust Co. owned 0.05% of Copart worth $25,570,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Cloud Capital Management LLC bought a new position in shares of Copart during the 1st quarter valued at approximately $26,000. Atticus Wealth Management LLC bought a new position in Copart in the 2nd quarter valued at $31,000. Ameritas Advisory Services LLC bought a new position in Copart in the 2nd quarter valued at $31,000. Accent Capital Management LLC bought a new position in Copart in the 1st quarter valued at $36,000. Finally, GFG Capital LLC bought a new position in Copart in the 2nd quarter valued at $37,000. Institutional investors own 85.78% of the company's stock.

Copart Trading Up 0.9%

Shares of CPRT stock opened at $44.76 on Tuesday. Copart, Inc. has a twelve month low of $43.32 and a twelve month high of $64.38. The stock has a market capitalization of $43.32 billion, a price-to-earnings ratio of 27.98 and a beta of 1.03. The stock has a fifty day simple moving average of $46.57 and a two-hundred day simple moving average of $50.74.

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, 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 business had revenue of $1.13 billion during the quarter, compared to analysts' expectations of $1.14 billion. During the same period in the prior year, the business earned $0.33 EPS. The business's revenue for the quarter was up 2.9% compared to the same quarter last year. Research analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CPRT has been the topic of several research analyst reports. Robert W. Baird cut their price objective on Copart from $64.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, July 17th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Copart in a research report on Wednesday, October 8th. Stephens cut their price objective 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. HSBC set a $62.00 price objective on Copart and gave the company a "buy" rating in a research report on Thursday, September 4th. Finally, Hsbc Global Res raised Copart from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $54.50.

Insider Buying and Selling at Copart

In related news, Director Thomas N. Tryforos sold 228,840 shares of the company's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $47.54, for a total transaction of $10,879,053.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey Liaw sold 24,283 shares of the company's stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total value of $1,087,635.57. Following the sale, the chief executive officer owned 31,332 shares of the company's stock, valued at $1,403,360.28. This trade represents a 43.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.68% of the stock is currently owned by corporate insiders.

Copart 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.

Want to see what other hedge funds are holding CPRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Copart, Inc. (NASDAQ:CPRT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.