Center For Asset Management LLC Acquires New Stake in Copart, Inc. (NASDAQ:CPRT)

Center For Asset Management LLC bought a new position in Copart, Inc. (NASDAQ:CPRT) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,721 shares of the business services provider’s stock, valued at approximately $271,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CPRT. Optimum Investment Advisors lifted its holdings in shares of Copart by 141.5% in the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after buying an additional 300 shares during the period. Eastern Bank bought a new stake in Copart during the third quarter worth approximately $29,000. Quarry LP bought a new position in shares of Copart in the third quarter valued at $29,000. Ashton Thomas Securities LLC acquired a new stake in shares of Copart during the 3rd quarter valued at $33,000. Finally, True Wealth Design LLC boosted its stake in shares of Copart by 1,737.1% during the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock worth $34,000 after acquiring an additional 608 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

Copart Price Performance

CPRT stock opened at $57.70 on Monday. The firm has a market capitalization of $55.60 billion, a P/E ratio of 40.63 and a beta of 1.33. Copart, Inc. has a 52-week low of $47.73 and a 52-week high of $64.38. The company’s 50 day simple moving average is $59.10 and its 200-day simple moving average is $54.83.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, November 21st. The business services provider reported $0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.37. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.10 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. The company’s revenue was up 12.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.34 EPS. Sell-side analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. upped their target price on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th.

Insider Buying and Selling

In related news, Director Diane M. Morefield sold 30,000 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the completion of the sale, the director now directly owns 20,000 shares in the company, valued at approximately $1,160,200. This trade represents a 60.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total value of $16,038,273.17. Following the sale, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. The trade was a 1.71 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 650,213 shares of company stock valued at $39,199,813. Corporate insiders own 9.68% of the company’s stock.

Copart Company 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.