Strategic Financial Concepts LLC Buys Shares of 149,214 Copart, Inc. (NASDAQ:CPRT)

Strategic Financial Concepts LLC acquired a new position in Copart, Inc. (NASDAQ:CPRT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 149,214 shares of the business services provider's stock, valued at approximately $8,563,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of CPRT. Optimum Investment Advisors raised its position in shares of Copart by 141.5% in the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider's stock worth $27,000 after acquiring an additional 300 shares in the last quarter. Eastern Bank bought a new position in shares of Copart in the 3rd quarter worth $29,000. Quarry LP bought a new position in shares of Copart in the 3rd quarter worth $29,000. Ashton Thomas Securities LLC bought a new position in shares of Copart in the 3rd quarter worth $33,000. Finally, True Wealth Design LLC raised its position in shares of Copart by 1,737.1% in the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider's stock worth $34,000 after acquiring an additional 608 shares in the last quarter. Institutional investors own 85.78% of the company's stock.

Analyst Upgrades and Downgrades

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

Copart Stock Performance

CPRT stock traded down $0.21 on Wednesday, hitting $59.02. 3,507,338 shares of the company's stock were exchanged, compared to its average volume of 3,332,394. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38. The firm has a 50 day moving average price of $58.46 and a two-hundred day moving average price of $55.29. The stock has a market cap of $56.87 billion, a P/E ratio of 41.56 and a beta of 1.33.

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

Insider Buying and Selling at Copart

In other Copart news, Director Thomas N. Tryforos sold 83,310 shares of the business's stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $61.86, for a total transaction of $5,153,556.60. Following the sale, the director now owns 7,850 shares in the company, valued at approximately $485,601. The trade was a 91.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman A Jayson Adair sold 251,423 shares of the business's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total value of $16,038,273.17. Following the completion of the transaction, the chairman now directly owns 14,436,557 shares of the company's stock, valued at approximately $920,907,971.03. This trade represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 650,213 shares of company stock worth $39,199,813. 9.68% of the stock is currently owned by insiders.

About Copart

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.