King Luther Capital Management Corp Increases Holdings in Copart, Inc. (NASDAQ:CPRT)

King Luther Capital Management Corp grew its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 0.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 120,329 shares of the business services provider’s stock after acquiring an additional 366 shares during the period. King Luther Capital Management Corp’s holdings in Copart were worth $6,906,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CPRT. Sage Mountain Advisors LLC increased its stake in Copart by 0.7% during the 4th quarter. Sage Mountain Advisors LLC now owns 286,201 shares of the business services provider’s stock valued at $16,425,000 after purchasing an additional 1,963 shares in the last quarter. Independent Advisor Alliance raised its holdings in Copart by 23.9% in the 4th quarter. Independent Advisor Alliance now owns 11,639 shares of the business services provider’s stock worth $668,000 after acquiring an additional 2,246 shares during the last quarter. Johnson Investment Counsel Inc. lifted its position in Copart by 8.3% in the 4th quarter. Johnson Investment Counsel Inc. now owns 15,316 shares of the business services provider’s stock valued at $879,000 after acquiring an additional 1,174 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Copart by 9.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 251,833 shares of the business services provider’s stock valued at $14,453,000 after purchasing an additional 21,951 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Copart by 9.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 206,858 shares of the business services provider’s stock worth $11,872,000 after purchasing an additional 18,581 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling at Copart

In other Copart news, Director Diane M. Morefield sold 30,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $58.01, for a total value of $1,740,300.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $1,160,200. This trade represents a 60.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel J. Englander sold 235,480 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $56.84, for a total transaction of $13,384,683.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 315,480 shares of company stock valued at $18,007,983. 9.68% of the stock is owned by company insiders.

Copart Stock Up 0.2 %

Shares of CPRT stock opened at $52.91 on Wednesday. The company has a 50 day moving average price of $56.96 and a 200-day moving average price of $56.01. 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 $51.12 billion, a PE ratio of 35.51 and a beta of 1.30.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. Analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current year.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. upped their price target on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th.

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.