Empowered Funds LLC Boosts Stock Holdings in Copart, Inc. (NASDAQ:CPRT)

Empowered Funds LLC lifted its holdings in Copart, Inc. (NASDAQ:CPRT - Free Report) by 31.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 84,445 shares of the business services provider's stock after buying an additional 20,376 shares during the period. Empowered Funds LLC's holdings in Copart were worth $4,846,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Optimum Investment Advisors lifted its stake in Copart by 141.5% in the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider's stock valued at $27,000 after purchasing an additional 300 shares during the last quarter. Eastern Bank purchased a new position in Copart in the third quarter valued at approximately $29,000. Quarry LP purchased a new position in Copart in the third quarter valued at approximately $29,000. Ashton Thomas Securities LLC purchased a new position in Copart in the third quarter valued at approximately $33,000. Finally, True Wealth Design LLC lifted its stake in Copart by 1,737.1% in the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider's stock valued at $34,000 after purchasing an additional 608 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Copart

In other news, Chairman A Jayson Adair sold 251,423 shares of the company's stock in a transaction on 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 transaction, the chairman now owns 14,436,557 shares of the company's stock, valued at approximately $920,907,971.03. This represents a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Daniel J. Englander sold 235,480 shares of the company's stock in a transaction 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 disclosure for this sale can be found here. Insiders have sold 650,213 shares of company stock valued at $39,199,813 in the last 90 days. 9.68% of the stock is currently owned by company insiders.

Copart Stock Performance

CPRT stock traded down $0.44 during midday trading on Friday, reaching $59.39. 2,392,531 shares of the company's stock traded hands, compared to its average volume of 3,039,759. The company has a 50-day moving average price of $58.29 and a two-hundred day moving average price of $55.43. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38. The firm has a market capitalization of $57.22 billion, a PE ratio of 41.82 and a beta of 1.33.

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

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.