Orion Portfolio Solutions LLC Buys 12,434 Shares of Copart, Inc. (NASDAQ:CPRT)

Orion Portfolio Solutions LLC increased its position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) by 14.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 100,275 shares of the business services provider's stock after buying an additional 12,434 shares during the period. Orion Portfolio Solutions LLC's holdings in Copart were worth $5,254,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Cadence Bank raised its stake in Copart by 0.6% during the third quarter. Cadence Bank now owns 31,549 shares of the business services provider's stock worth $1,653,000 after buying an additional 178 shares during the last quarter. Spinnaker Trust raised its stake in Copart by 4.0% during the second quarter. Spinnaker Trust now owns 5,222 shares of the business services provider's stock worth $283,000 after buying an additional 200 shares during the last quarter. Values First Advisors Inc. raised its stake in Copart by 2.9% during the second quarter. Values First Advisors Inc. now owns 7,098 shares of the business services provider's stock worth $384,000 after buying an additional 201 shares during the last quarter. Duncan Williams Asset Management LLC raised its stake in Copart by 1.3% during the third quarter. Duncan Williams Asset Management LLC now owns 15,437 shares of the business services provider's stock worth $809,000 after buying an additional 203 shares during the last quarter. Finally, Burney Co. raised its stake in Copart by 1.4% during the second quarter. Burney Co. now owns 15,001 shares of the business services provider's stock worth $812,000 after buying an additional 206 shares during the last quarter. Institutional investors own 85.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Robert W. Baird reduced their price target on shares of Copart from $58.00 to $56.00 and set an "outperform" rating for the company in a report on Thursday, September 5th. JPMorgan Chase & Co. raised their price target on shares of Copart from $55.00 to $60.00 and gave the stock a "neutral" rating in a report on Tuesday, November 19th.

Copart Price Performance

Shares of NASDAQ CPRT traded down $0.31 during mid-day trading on Monday, reaching $61.77. 4,251,873 shares of the company's stock traded hands, compared to its average volume of 4,452,637. The stock has a market cap of $59.52 billion, a P/E ratio of 43.50 and a beta of 1.31. The business has a 50-day simple moving average of $56.26 and a 200 day simple moving average of $53.81. Copart, Inc. has a 1-year low of $46.21 and a 1-year high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.10 billion. Copart had a net margin of 31.92% and a return on equity of 18.96%. The business's revenue was up 12.4% on a year-over-year basis. During the same period last year, the company earned $0.34 earnings per share. Equities research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Activity

In related news, 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 transaction of $16,038,273.17. Following the transaction, the chairman now directly owns 14,436,557 shares in the company, valued at approximately $920,907,971.03. The trade was a 1.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the director now owns 7,850 shares in the company, valued at approximately $485,601. This trade represents a 91.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.68% of the company's stock.

Copart Company 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.