Marks Group Wealth Management Inc Sells 2,672 Shares of Copart, Inc. (NASDAQ:CPRT)

Marks Group Wealth Management Inc reduced its position in Copart, Inc. (NASDAQ:CPRT) by 1.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 177,972 shares of the business services provider’s stock after selling 2,672 shares during the quarter. Copart makes up about 1.0% of Marks Group Wealth Management Inc’s portfolio, making the stock its 15th largest position. Marks Group Wealth Management Inc’s holdings in Copart were worth $8,721,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CPRT. OFI Invest Asset Management acquired a new stake in Copart in the third quarter worth $25,000. Manchester Capital Management LLC increased its position in Copart by 101.0% in the 3rd quarter. Manchester Capital Management LLC now owns 625 shares of the business services provider’s stock valued at $27,000 after buying an additional 314 shares in the last quarter. Bell Investment Advisors Inc raised its stake in Copart by 87.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 694 shares of the business services provider’s stock worth $30,000 after buying an additional 323 shares during the period. Fortitude Family Office LLC bought a new position in Copart in the fourth quarter worth approximately $34,000. Finally, Annapolis Financial Services LLC grew its stake in Copart by 100.0% in the third quarter. Annapolis Financial Services LLC now owns 720 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 360 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Price Performance

Shares of CPRT traded up $0.42 during trading hours on Monday, hitting $53.30. The company’s stock had a trading volume of 3,307,096 shares, compared to its average volume of 4,622,308. The business has a 50 day simple moving average of $54.40 and a two-hundred day simple moving average of $50.21. Copart, Inc. has a 52-week low of $38.35 and a 52-week high of $58.58. The company has a market cap of $51.25 billion, a price-to-earnings ratio of 38.35 and a beta of 1.22.

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

Insider Buying and Selling

In related news, Director Thomas N. Tryforos sold 285,000 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the transaction, the director now owns 35,000 shares of the company’s stock, valued at approximately $1,934,450. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Thomas N. Tryforos sold 285,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $55.27, for a total transaction of $15,751,950.00. Following the completion of the sale, the director now owns 35,000 shares of the company’s stock, valued at $1,934,450. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Matt Blunt sold 100,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $51.06, for a total transaction of $5,106,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 985,000 shares of company stock worth $55,519,950. Insiders own 10.23% of the company’s stock.

Analyst Upgrades and Downgrades

CPRT has been the subject of several recent research reports. StockNews.com downgraded shares of Copart from a “buy” rating to a “hold” rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. increased their price objective on Copart from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $51.00.

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.