United Asset Strategies Inc. Acquires 1,752 Shares of Copart, Inc. (NASDAQ:CPRT)

United Asset Strategies Inc. grew its stake in Copart, Inc. (NASDAQ:CPRT) by 11.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,885 shares of the business services provider’s stock after purchasing an additional 1,752 shares during the quarter. United Asset Strategies Inc.’s holdings in Copart were worth $827,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CPRT. Veritable L.P. lifted its stake in Copart by 0.9% during the 1st quarter. Veritable L.P. now owns 15,198 shares of the business services provider’s stock valued at $1,143,000 after acquiring an additional 136 shares in the last quarter. Retirement Systems of Alabama lifted its stake in Copart by 0.3% during the 3rd quarter. Retirement Systems of Alabama now owns 71,048 shares of the business services provider’s stock valued at $7,560,000 after acquiring an additional 189 shares in the last quarter. Hollencrest Capital Management lifted its position in shares of Copart by 92.1% during the first quarter. Hollencrest Capital Management now owns 438 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 210 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of Copart by 3.9% during the third quarter. Mercer Global Advisors Inc. ADV now owns 5,640 shares of the business services provider’s stock valued at $600,000 after purchasing an additional 213 shares in the last quarter. Finally, Simon Quick Advisors LLC lifted its position in shares of Copart by 2.6% during the first quarter. Simon Quick Advisors LLC now owns 9,286 shares of the business services provider’s stock valued at $698,000 after purchasing an additional 238 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

Shares of CPRT stock opened at $54.38 on Wednesday. The firm has a market cap of $52.29 billion, a price-to-earnings ratio of 39.12 and a beta of 1.22. The firm’s 50-day simple moving average is $54.20 and its two-hundred day simple moving average is $49.93. Copart, Inc. has a 52 week low of $38.35 and a 52 week high of $58.58.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, February 22nd. The business services provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.03 billion. Copart had a return on equity of 21.55% and a net margin of 33.41%. The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the firm posted $0.31 EPS. Analysts forecast that Copart, Inc. will post 1.42 earnings per share for the current year.

Insider Activity at Copart

In related news, Director Matt Blunt sold 100,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $51.06, for a total value of $5,106,000.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Chairman A Jayson Adair sold 600,000 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $57.77, for a total transaction of $34,662,000.00. Following the sale, the chairman now owns 19,687,980 shares of the company’s stock, valued at approximately $1,137,374,604.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matt Blunt sold 100,000 shares of Copart stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $51.06, for a total value of $5,106,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 985,000 shares of company stock worth $55,519,950. Company insiders own 10.23% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. StockNews.com cut shares of Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. lifted their price target on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $51.00.

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.