Lord & Richards Wealth Management LLC Takes $571,000 Position in Copart, Inc. (NASDAQ:CPRT)

Lord & Richards Wealth Management LLC acquired a new position in Copart, Inc. (NASDAQ:CPRT - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,941 shares of the business services provider's stock, valued at approximately $571,000. Copart makes up approximately 1.2% of Lord & Richards Wealth Management LLC's investment portfolio, making the stock its 26th largest position.

Other hedge funds have also recently bought and sold shares of the company. Optimum Investment Advisors boosted its holdings in shares of Copart by 141.5% during the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider's stock worth $27,000 after buying an additional 300 shares during the period. Eastern Bank acquired a new position in Copart during the 3rd quarter worth $29,000. Quarry LP bought a new stake in Copart during the third quarter valued at about $29,000. Ashton Thomas Securities LLC acquired a new stake in shares of Copart in the third quarter valued at about $33,000. Finally, True Wealth Design LLC increased its stake in shares of Copart by 1,737.1% in the third quarter. True Wealth Design LLC now owns 643 shares of the business services provider's stock worth $34,000 after purchasing an additional 608 shares during the period. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Copart

In related news, Director Daniel J. Englander sold 235,480 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $56.84, for a total value of $13,384,683.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas N. Tryforos sold 83,310 shares of the stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $61.86, for a total value of $5,153,556.60. Following the completion of the transaction, the director now owns 7,850 shares in the company, valued at $485,601. The trade was a 91.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 650,213 shares of company stock valued at $39,199,813. Company insiders own 9.68% of the company's stock.

Analyst Upgrades and Downgrades

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

Copart Trading Up 0.3 %

CPRT traded up $0.15 on Wednesday, hitting $59.74. 3,637,497 shares of the stock traded hands, compared to its average volume of 3,311,460. The business has a fifty day moving average price of $58.14 and a two-hundred day moving average price of $55.59. 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 $57.56 billion, a PE ratio of 42.07 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 EPS for the quarter, meeting analysts' consensus estimates of $0.37. Copart had a return on equity of 18.96% and a net margin of 31.92%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the company posted $0.34 earnings per share. Copart's revenue was up 12.4% on a year-over-year basis. On average, equities research analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

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.