Enhancing Capital LLC Acquires Shares of 9,885 Copart, Inc. (NASDAQ:CPRT)

Enhancing Capital LLC purchased a new stake in Copart, Inc. (NASDAQ:CPRT - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 9,885 shares of the business services provider's stock, valued at approximately $567,000.

A number of other hedge funds have also recently bought and sold shares of CPRT. Principal Financial Group Inc. grew its stake in Copart by 2.5% in the third quarter. Principal Financial Group Inc. now owns 38,876,517 shares of the business services provider's stock valued at $2,037,130,000 after purchasing an additional 941,858 shares in the last quarter. OneDigital Investment Advisors LLC grew its stake in Copart by 1.8% in the third quarter. OneDigital Investment Advisors LLC now owns 19,298 shares of the business services provider's stock valued at $1,011,000 after purchasing an additional 337 shares in the last quarter. Empowered Funds LLC grew its stake in Copart by 20.9% in the third quarter. Empowered Funds LLC now owns 64,069 shares of the business services provider's stock valued at $3,357,000 after purchasing an additional 11,089 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in Copart by 34.0% in the third quarter. Thrivent Financial for Lutherans now owns 193,671 shares of the business services provider's stock valued at $10,149,000 after purchasing an additional 49,149 shares in the last quarter. Finally, Swiss National Bank boosted its stake in shares of Copart by 0.3% during the 3rd quarter. Swiss National Bank now owns 2,570,500 shares of the business services provider's stock worth $134,694,000 after acquiring an additional 7,300 shares during the period. 85.78% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

Separately, Argus downgraded Copart from a "buy" rating to a "hold" rating in a research note on Friday, March 14th.

Copart Stock Down 0.4 %

Shares of NASDAQ CPRT traded down $0.22 during midday trading on Friday, hitting $53.63. 5,952,411 shares of the company's stock were exchanged, compared to its average volume of 4,017,068. Copart, Inc. has a 12 month low of $48.05 and a 12 month high of $64.38. The company's 50 day moving average price is $56.43 and its 200 day moving average price is $55.99. The firm has a market capitalization of $51.81 billion, a PE ratio of 35.99 and a beta of 1.30.

Copart (NASDAQ:CPRT - Get Free Report) last issued its 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 return on equity of 19.31% and a net margin of 32.27%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.13 billion. On average, equities research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Insider Buying and Selling

In related news, Director Matt Blunt sold 50,000 shares of Copart stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total transaction of $2,883,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel J. Englander sold 235,480 shares of Copart stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $56.84, for a total value of $13,384,683.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 415,480 shares of company stock valued at $23,407,983. 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.