Raymond James Financial Services Advisors Inc. Purchases 38,972 Shares of Copart, Inc. (NASDAQ:CPRT)

Raymond James Financial Services Advisors Inc. grew its position in Copart, Inc. (NASDAQ:CPRT - Free Report) by 9.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 468,098 shares of the business services provider's stock after buying an additional 38,972 shares during the period. Raymond James Financial Services Advisors Inc.'s holdings in Copart were worth $27,112,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CPRT. OFI Invest Asset Management bought a new position in Copart in the 3rd quarter valued at approximately $25,000. Manchester Capital Management LLC boosted its position in shares of Copart by 101.0% during the third quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider's stock valued at $27,000 after buying an additional 314 shares during the last quarter. Rise Advisors LLC purchased a new stake in shares of Copart during the first quarter valued at $28,000. Bell Investment Advisors Inc increased its holdings in Copart by 87.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider's stock worth $30,000 after buying an additional 323 shares in the last quarter. Finally, Annapolis Financial Services LLC raised its position in Copart by 100.0% in the 3rd quarter. Annapolis Financial Services LLC now owns 720 shares of the business services provider's stock worth $31,000 after buying an additional 360 shares during the last quarter. Institutional investors own 85.78% of the company's stock.

Copart Price Performance

Shares of NASDAQ:CPRT traded up $0.13 during trading on Wednesday, hitting $54.44. The company's stock had a trading volume of 4,368,134 shares, compared to its average volume of 4,546,242. The firm has a market cap of $52.34 billion, a price-to-earnings ratio of 39.17 and a beta of 1.22. The company has a 50-day moving average of $55.11 and a 200-day moving average of $50.61. Copart, Inc. has a 12 month low of $38.83 and a 12 month high of $58.58.

Copart (NASDAQ:CPRT - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.02). Copart had a return on equity of 21.55% and a net margin of 33.41%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the business posted $0.31 earnings per share. The firm's revenue was up 6.6% on a year-over-year basis. As a group, research analysts anticipate that Copart, Inc. will post 1.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CPRT shares. JPMorgan Chase & Co. lifted their price target on shares of Copart from $48.00 to $52.00 and gave the stock a "neutral" rating in a research note on Monday, April 8th. StockNews.com lowered shares of Copart from a "buy" rating to a "hold" rating in a research note on Wednesday, February 21st. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $51.00.

Insider Activity

In other Copart news, Director Thomas N. Tryforos sold 285,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the sale, the director now owns 35,000 shares in the company, valued at approximately $1,934,450. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Chairman A Jayson Adair sold 600,000 shares of Copart stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the sale, the chairman now owns 19,687,980 shares in the company, valued at $1,137,374,604.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Thomas N. Tryforos sold 285,000 shares of the business's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the completion of the transaction, the director now directly owns 35,000 shares in the company, valued at approximately $1,934,450. The disclosure for this sale can be found here. Insiders have sold a total of 985,000 shares of company stock valued at $55,519,950 in the last ninety days. Corporate insiders own 10.23% of the company's stock.

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.

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