Johnson Investment Counsel Inc. Has $643,000 Stock Position in Copart, Inc. (NASDAQ:CPRT)

Johnson Investment Counsel Inc. cut its position in Copart, Inc. (NASDAQ:CPRT) by 4.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 7,055 shares of the business services provider’s stock after selling 295 shares during the period. Johnson Investment Counsel Inc.’s holdings in Copart were worth $643,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CPRT. Quarry LP bought a new position in shares of Copart during the 1st quarter worth approximately $29,000. Fiduciary Alliance LLC acquired a new position in shares of Copart in the second quarter valued at $30,000. Newbridge Financial Services Group Inc. bought a new position in shares of Copart in the second quarter valued at about $31,000. Annapolis Financial Services LLC acquired a new stake in shares of Copart during the 2nd quarter worth about $33,000. Finally, Hollencrest Capital Management boosted its holdings in shares of Copart by 92.1% during the 1st quarter. Hollencrest Capital Management now owns 438 shares of the business services provider’s stock worth $33,000 after buying an additional 210 shares during the period. 79.26% of the stock is currently owned by institutional investors and hedge funds.

Copart Stock Performance

Shares of Copart stock opened at $50.85 on Tuesday. The firm has a 50-day moving average of $45.16 and a 200-day moving average of $46.57. The stock has a market cap of $48.83 billion, a PE ratio of 37.39 and a beta of 1.19. Copart, Inc. has a 52-week low of $29.61 and a 52-week high of $51.53.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, November 16th. The business services provider reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $987.90 million. Copart had a return on equity of 22.46% and a net margin of 31.99%. Copart’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 earnings per share. Equities research analysts predict that Copart, Inc. will post 1.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CPRT. StockNews.com raised shares of Copart from a “hold” rating to a “buy” rating in a report on Monday, October 30th. JPMorgan Chase & Co. lifted their price target on Copart from $39.50 to $41.00 in a report on Monday, September 18th. Robert W. Baird upped their price objective on Copart from $45.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, September 15th. Finally, Argus initiated coverage on Copart in a research report on Friday, September 8th. They set a “buy” rating and a $53.00 price objective on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Copart has an average rating of “Moderate Buy” and a consensus target price of $44.40.

Insider Activity at Copart

In related news, Director Stephen Fisher sold 160,000 shares of the business’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $45.69, for a total value of $7,310,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Copart news, Director Matt Blunt sold 49,435 shares of the business’s stock in a transaction dated Tuesday, October 3rd. The stock was sold at an average price of $43.11, for a total transaction of $2,131,142.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen Fisher sold 160,000 shares of the business’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $45.69, for a total value of $7,310,400.00. The disclosure for this sale can be found here. 10.23% of the stock is owned by 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.