Spire Wealth Management Purchases 17,734 Shares of Copart, Inc. (NASDAQ:CPRT)

Spire Wealth Management boosted its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 17.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 120,606 shares of the business services provider's stock after purchasing an additional 17,734 shares during the quarter. Spire Wealth Management's holdings in Copart were worth $5,874,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in CPRT. Commonwealth Equity Services LLC boosted its position in shares of Copart by 122.5% in the third quarter. Commonwealth Equity Services LLC now owns 98,215 shares of the business services provider's stock worth $4,232,000 after buying an additional 54,068 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of Copart by 139.9% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 40,690 shares of the business services provider's stock worth $1,753,000 after buying an additional 23,726 shares during the period. Raymond James & Associates boosted its position in shares of Copart by 97.2% in the third quarter. Raymond James & Associates now owns 802,219 shares of the business services provider's stock worth $34,568,000 after buying an additional 395,454 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Copart by 74.6% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 434,832 shares of the business services provider's stock worth $18,737,000 after buying an additional 185,815 shares during the period. Finally, Stratos Wealth Partners LTD. boosted its position in shares of Copart by 139.7% in the third quarter. Stratos Wealth Partners LTD. now owns 21,926 shares of the business services provider's stock worth $945,000 after buying an additional 12,777 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Stock Performance

Shares of NASDAQ:CPRT traded up $0.54 during trading on Monday, hitting $55.74. The company's stock had a trading volume of 3,209,580 shares, compared to its average volume of 4,525,176. The stock's 50-day moving average price is $55.40 and its two-hundred day moving average price is $50.79. Copart, Inc. has a fifty-two week low of $39.28 and a fifty-two week high of $58.58. The company has a market capitalization of $53.59 billion, a PE ratio of 39.71 and a beta of 1.22.

Copart (NASDAQ:CPRT - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The business services provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). Copart had a net margin of 33.41% and a return on equity of 21.55%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the company earned $0.31 EPS. The company's quarterly revenue was up 6.6% compared to the same quarter last year. On average, equities analysts predict that Copart, Inc. will post 1.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Copart

In other Copart news, Director Matt Blunt sold 100,000 shares of the company's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $51.06, for a total transaction of $5,106,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Matt Blunt sold 100,000 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $51.06, for a total transaction of $5,106,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas N. Tryforos sold 285,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total value of $15,751,950.00. Following the sale, the director now owns 35,000 shares in the company, valued at $1,934,450. The disclosure for this sale can be found here. Insiders have sold 985,000 shares of company stock worth $55,519,950 over the last quarter. 10.23% of the stock is 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.