244,513 Shares in Copart, Inc. $CPRT Purchased by W.G. Shaheen & Associates DBA Whitney & Co

W.G. Shaheen & Associates DBA Whitney & Co acquired a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the fourth quarter, HoldingsChannel reports. The firm acquired 244,513 shares of the business services provider’s stock, valued at approximately $9,573,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Turning Point Benefit Group Inc. increased its position in Copart by 50.7% during the 4th quarter. Turning Point Benefit Group Inc. now owns 4,052 shares of the business services provider’s stock worth $159,000 after purchasing an additional 1,364 shares in the last quarter. Smart Money Group LLC increased its position in Copart by 4.0% during the 4th quarter. Smart Money Group LLC now owns 21,271 shares of the business services provider’s stock worth $833,000 after purchasing an additional 809 shares in the last quarter. Vest Financial LLC increased its position in Copart by 17.9% during the 4th quarter. Vest Financial LLC now owns 12,073 shares of the business services provider’s stock worth $473,000 after purchasing an additional 1,835 shares in the last quarter. Certuity LLC grew its holdings in Copart by 36.0% in the 4th quarter. Certuity LLC now owns 32,893 shares of the business services provider’s stock valued at $1,288,000 after buying an additional 8,706 shares during the period. Finally, Torren Management LLC purchased a new stake in Copart in the 4th quarter valued at about $96,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on CPRT shares. Robert W. Baird set a $48.00 price target on Copart and gave the company an “outperform” rating in a report on Friday, February 20th. Barclays reaffirmed an “underweight” rating and issued a $32.00 price objective (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. JPMorgan Chase & Co. reduced their price target on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a research report on Monday. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Copart in a research report on Monday, March 23rd. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $44.40.

Copart Stock Down 0.0%

Shares of CPRT opened at $33.33 on Thursday. The business’s 50 day moving average is $34.40 and its two-hundred day moving average is $38.35. Copart, Inc. has a 52-week low of $32.20 and a 52-week high of $63.85. The firm has a market cap of $32.11 billion, a price-to-earnings ratio of 20.83 and a beta of 1.14.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). Copart had a net margin of 33.76% and a return on equity of 16.68%. The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the firm posted $0.40 earnings per share. Copart’s revenue was down 3.6% compared to the same quarter last year. On average, equities analysts expect that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total value of $869,747.34. Following the completion of the sale, the chief executive officer directly owned 79,532 shares in the company, valued at approximately $2,638,871.76. The trade was a 24.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 9.60% of the company’s stock.

Copart Profile

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.