Independent Advisor Alliance Acquires 2,246 Shares of Copart, Inc. (NASDAQ:CPRT)

Independent Advisor Alliance lifted its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 23.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,639 shares of the business services provider’s stock after acquiring an additional 2,246 shares during the quarter. Independent Advisor Alliance’s holdings in Copart were worth $668,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mn Services Vermogensbeheer B.V. boosted its holdings in shares of Copart by 2.5% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 339,680 shares of the business services provider’s stock worth $19,494,000 after acquiring an additional 8,300 shares during the period. National Pension Service increased its position in shares of Copart by 3.2% during the fourth quarter. National Pension Service now owns 1,558,067 shares of the business services provider’s stock valued at $89,417,000 after buying an additional 48,334 shares during the period. Kieckhefer Group LLC purchased a new stake in shares of Copart in the fourth quarter worth about $3,962,000. Sanctuary Advisors LLC boosted its position in shares of Copart by 21.2% in the third quarter. Sanctuary Advisors LLC now owns 52,767 shares of the business services provider’s stock valued at $2,765,000 after acquiring an additional 9,222 shares during the period. Finally, Cobblestone Capital Advisors LLC NY grew its stake in Copart by 47.4% during the fourth quarter. Cobblestone Capital Advisors LLC NY now owns 393,187 shares of the business services provider’s stock valued at $22,565,000 after acquiring an additional 126,436 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th. Argus downgraded shares of Copart from a “buy” rating to a “hold” rating in a report on Friday.

Copart Trading Up 0.7 %

Shares of Copart stock opened at $52.65 on Monday. The business’s 50-day moving average price is $56.71 and its 200-day moving average price is $56.01. The firm has a market capitalization of $50.86 billion, a PE ratio of 35.34 and a beta of 1.30. Copart, Inc. has a 12 month low of $48.05 and a 12 month high of $64.38.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.38 by $0.02. Copart had a net margin of 32.27% and a return on equity of 19.31%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.13 billion. As a group, analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Daniel J. Englander sold 235,480 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $56.84, for a total transaction of $13,384,683.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Matt Blunt sold 50,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $57.66, for a total transaction of $2,883,000.00. The disclosure for this sale can be found here. Insiders sold 315,480 shares of company stock valued at $18,007,983 over the last three months. Insiders own 9.68% of the company’s stock.

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.