Raymond James Financial Services Advisors Inc. Grows Stake in Copart, Inc. (NASDAQ:CPRT)

Posted by on Jun 30th, 2023

Raymond James Financial Services Advisors Inc. grew its position in Copart, Inc. (NASDAQ:CPRT – Free Report) by 15.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 204,064 shares of the business services provider’s stock after purchasing an additional 27,955 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Copart were worth $15,348,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Janiczek Wealth Management LLC grew its holdings in Copart by 129.4% in the fourth quarter. Janiczek Wealth Management LLC now owns 406 shares of the business services provider’s stock worth $25,000 after purchasing an additional 229 shares during the last quarter. General Partner Inc. purchased a new stake in shares of Copart during the fourth quarter valued at $26,000. SRS Capital Advisors Inc. grew its holdings in shares of Copart by 100.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 452 shares of the business services provider’s stock valued at $28,000 after buying an additional 226 shares during the last quarter. CI Investments Inc. grew its holdings in shares of Copart by 1,003.8% during the third quarter. CI Investments Inc. now owns 287 shares of the business services provider’s stock valued at $31,000 after buying an additional 261 shares during the last quarter. Finally, Concord Wealth Partners purchased a new stake in shares of Copart during the fourth quarter valued at $31,000. 78.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CPRT has been the topic of a number of research analyst reports. Northcoast Research lowered shares of Copart from a “buy” rating to a “neutral” rating in a report on Monday, May 1st. StockNews.com started coverage on shares of Copart in a research report on Thursday, May 18th. They set a “buy” rating for the company. Finally, Robert W. Baird upped their price target on shares of Copart from $78.00 to $90.00 in a report on Thursday, May 18th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.33.

Insider Transactions at Copart

In other news, Chairman Willis J. Johnson sold 660,000 shares of the stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $89.07, for a total transaction of $58,786,200.00. Following the sale, the chairman now directly owns 1,773,832 shares of the company’s stock, valued at approximately $157,995,216.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Chairman Willis J. Johnson sold 660,000 shares of the stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $89.07, for a total transaction of $58,786,200.00. Following the sale, the chairman now directly owns 1,773,832 shares of the company’s stock, valued at approximately $157,995,216.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Stephen Fisher sold 50,000 shares of the stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $87.06, for a total transaction of $4,353,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 933,100 shares of company stock valued at $82,877,409 in the last ninety days. 11.19% of the stock is currently owned by corporate insiders.

Copart Stock Performance

NASDAQ:CPRT opened at $90.26 on Friday. Copart, Inc. has a one year low of $52.28 and a one year high of $90.58. The firm has a market cap of $43.09 billion, a price-to-earnings ratio of 37.77 and a beta of 1.23. The firm’s fifty day moving average is $84.64 and its two-hundred day moving average is $73.77.

Copart (NASDAQ:CPRT – Free Report) last posted its quarterly earnings results on Wednesday, May 17th. The business services provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.64 by $0.08. Copart had a net margin of 30.72% and a return on equity of 22.80%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the company earned $0.58 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. As a group, equities research analysts predict that Copart, Inc. will post 2.43 earnings per share for the current fiscal year.

Copart Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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