Salem Investment Counselors Inc. Purchases 645 Shares of Copart, Inc. (NASDAQ:CPRT)

Salem Investment Counselors Inc. boosted its position in Copart, Inc. (NASDAQ:CPRT) by 1.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 42,912 shares of the business services provider’s stock after purchasing an additional 645 shares during the period. Salem Investment Counselors Inc.’s holdings in Copart were worth $2,463,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of CPRT. Optimum Investment Advisors lifted its position in shares of Copart by 141.5% during the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 300 shares during the period. Eastern Bank bought a new stake in Copart in the third quarter valued at $29,000. Quarry LP acquired a new position in shares of Copart during the third quarter valued at about $29,000. Meeder Asset Management Inc. boosted its position in shares of Copart by 283.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 575 shares of the business services provider’s stock worth $31,000 after purchasing an additional 425 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Copart in the 3rd quarter valued at about $33,000. Institutional investors own 85.78% of the company’s stock.

Analysts Set New Price Targets

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

Copart Trading Down 0.0 %

Shares of CPRT stock opened at $55.63 on Tuesday. The firm has a fifty day simple moving average of $58.96 and a two-hundred day simple moving average of $54.65. Copart, Inc. has a 12 month low of $47.31 and a 12 month high of $64.38. The firm has a market capitalization of $53.60 billion, a PE ratio of 39.18 and a beta of 1.33.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, November 21st. The business services provider reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. Copart had a net margin of 31.92% and a return on equity of 18.96%. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the previous year, the firm posted $0.34 earnings per share. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, equities analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Copart news, Chairman A Jayson Adair sold 251,423 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $63.79, for a total value of $16,038,273.17. Following the completion of the sale, the chairman now directly owns 14,436,557 shares of the company’s stock, valued at approximately $920,907,971.03. This represents a 1.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Diane M. Morefield sold 30,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $58.01, for a total transaction of $1,740,300.00. Following the completion of the sale, the director now owns 20,000 shares of the company’s stock, valued at approximately $1,160,200. This trade represents a 60.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 650,213 shares of company stock valued at $39,199,813. Corporate insiders own 9.68% of the company’s stock.

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.