Hilltop Holdings Inc. Invests $716,000 in Copart, Inc. (NASDAQ:CPRT)

Hilltop Holdings Inc. purchased a new position in Copart, Inc. (NASDAQ:CPRT) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,655 shares of the business services provider’s stock, valued at approximately $716,000.

Other hedge funds have also made changes to their positions in the company. Optimum Investment Advisors lifted its position in shares of Copart by 141.5% in the third quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after purchasing an additional 300 shares in the last quarter. Eastern Bank acquired a new stake in Copart in the third quarter valued at approximately $29,000. Crewe Advisors LLC lifted its stake in Copart by 98.6% in the second quarter. Crewe Advisors LLC now owns 564 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 280 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in Copart by 283.3% in the second quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 425 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in Copart in the third quarter valued at approximately $33,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Copart

In related news, Chairman A Jayson Adair sold 251,423 shares of the business’s stock in a transaction on 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 owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. The trade was a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 9.68% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CPRT has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Robert W. Baird reduced their target price on shares of Copart from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Thursday, September 5th.

Copart Trading Up 1.2 %

Shares of Copart stock opened at $62.97 on Thursday. The firm has a fifty day simple moving average of $55.46 and a 200-day simple moving average of $53.59. Copart, Inc. has a 1-year low of $46.21 and a 1-year high of $64.38. The stock has a market capitalization of $60.67 billion, a price-to-earnings ratio of 44.35 and a beta of 1.31.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, November 21st. The business services provider reported $0.37 earnings per share for the quarter, hitting 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 during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the company earned $0.34 earnings per share. Copart’s revenue for the quarter was up 12.4% on a year-over-year basis. As a group, research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current 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.