Perpetual Ltd Buys 13,888 Shares of Copart, Inc. (NASDAQ:CPRT)

Perpetual Ltd raised its stake in Copart, Inc. (NASDAQ:CPRT) by 8.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 180,752 shares of the business services provider’s stock after purchasing an additional 13,888 shares during the period. Perpetual Ltd’s holdings in Copart were worth $10,373,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Optimum Investment Advisors raised its stake in Copart by 141.5% during the 3rd quarter. Optimum Investment Advisors now owns 512 shares of the business services provider’s stock worth $27,000 after buying an additional 300 shares during the period. Eastern Bank bought a new stake in shares of Copart during the third quarter valued at approximately $29,000. Quarry LP acquired a new position in shares of Copart during the third quarter worth approximately $29,000. Ashton Thomas Securities LLC bought a new position in shares of Copart in the 3rd quarter worth $33,000. Finally, True Wealth Design LLC grew its position in Copart by 1,737.1% in the 3rd quarter. True Wealth Design LLC now owns 643 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 608 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Buying and Selling

In other news, Chairman A Jayson Adair sold 251,423 shares of Copart stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $63.79, for a total transaction of $16,038,273.17. Following the sale, the chairman now directly owns 14,436,557 shares in the company, valued at $920,907,971.03. The trade was a 1.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel J. Englander sold 235,480 shares of the stock in a transaction dated 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 ninety days, insiders have sold 650,213 shares of company stock worth $39,199,813. 9.68% of the stock is owned by insiders.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. raised their price objective 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.

Copart Stock Up 0.9 %

Shares of Copart stock opened at $57.44 on Wednesday. The company has a market cap of $55.35 billion, a PE ratio of 40.45 and a beta of 1.33. Copart, Inc. has a 52 week low of $47.73 and a 52 week high of $64.38. The business has a 50 day moving average price of $59.08 and a 200-day moving average price of $54.76.

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, meeting the consensus estimate of $0.37. The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. The business’s revenue was up 12.4% on a year-over-year basis. During the same period last year, the business earned $0.34 EPS. As a group, research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

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.