Boston Financial Mangement LLC Increases Stake in Copart, Inc. (NASDAQ:CPRT)

Boston Financial Mangement LLC boosted its stake in Copart, Inc. (NASDAQ:CPRT) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,001,097 shares of the business services provider’s stock after acquiring an additional 11,106 shares during the period. Copart accounts for 3.5% of Boston Financial Mangement LLC’s investment portfolio, making the stock its 5th largest holding. Boston Financial Mangement LLC owned about 0.21% of Copart worth $114,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in CPRT. Creative Planning boosted its holdings in Copart by 1.2% in the third quarter. Creative Planning now owns 141,602 shares of the business services provider’s stock valued at $7,420,000 after acquiring an additional 1,646 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in Copart by 7.3% in the third quarter. Sequoia Financial Advisors LLC now owns 16,526 shares of the business services provider’s stock valued at $866,000 after buying an additional 1,122 shares during the period. Eastern Bank acquired a new position in Copart in the third quarter valued at approximately $29,000. Segment Wealth Management LLC lifted its stake in Copart by 15.1% in the third quarter. Segment Wealth Management LLC now owns 40,873 shares of the business services provider’s stock valued at $2,142,000 after buying an additional 5,374 shares during the period. Finally, Private Advisor Group LLC lifted its stake in Copart by 0.9% in the third quarter. Private Advisor Group LLC now owns 26,011 shares of the business services provider’s stock valued at $1,363,000 after buying an additional 230 shares during the period. 85.78% of the stock is currently owned by institutional investors.

Insider Transactions at Copart

In other news, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $56.84, for a total transaction of $13,384,683.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman A Jayson Adair sold 251,423 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total value of $16,038,273.17. Following the transaction, the chairman now directly owns 14,436,557 shares in the company, valued at $920,907,971.03. The trade was a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 650,213 shares of company stock valued at $39,199,813 over the last ninety days. 9.68% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Copart Stock Performance

Shares of CPRT opened at $59.74 on Thursday. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The business’s 50 day moving average price is $58.14 and its two-hundred day moving average price is $55.59. The firm has a market cap of $57.56 billion, a PE ratio of 42.07 and a beta of 1.33.

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

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.