Envestnet Portfolio Solutions Inc. Raises Holdings in Copart, Inc. (NASDAQ:CPRT)

Envestnet Portfolio Solutions Inc. grew its position in shares of Copart, Inc. (NASDAQ:CPRT) by 6.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 163,326 shares of the business services provider’s stock after purchasing an additional 9,400 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Copart were worth $9,373,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Mn Services Vermogensbeheer B.V. grew its holdings in shares of Copart by 2.5% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 339,680 shares of the business services provider’s stock worth $19,494,000 after purchasing an additional 8,300 shares during the last quarter. National Pension Service grew its holdings in shares of Copart by 3.2% during the fourth quarter. National Pension Service now owns 1,558,067 shares of the business services provider’s stock worth $89,417,000 after purchasing an additional 48,334 shares during the last quarter. Kieckhefer Group LLC purchased a new position in shares of Copart during the fourth quarter worth about $3,962,000. Sanctuary Advisors LLC grew its holdings in shares of Copart by 21.2% during the third quarter. Sanctuary Advisors LLC now owns 52,767 shares of the business services provider’s stock worth $2,765,000 after purchasing an additional 9,222 shares during the last quarter. Finally, Cobblestone Capital Advisors LLC NY grew its holdings in shares of Copart by 47.4% during the fourth quarter. Cobblestone Capital Advisors LLC NY now owns 393,187 shares of the business services provider’s stock worth $22,565,000 after purchasing an additional 126,436 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Trading Up 2.1 %

CPRT stock opened at $53.75 on Tuesday. The firm has a 50 day moving average of $56.65 and a 200-day moving average of $56.02. Copart, Inc. has a 12-month low of $48.05 and a 12-month high of $64.38. The company has a market cap of $51.93 billion, a price-to-earnings ratio of 36.07 and a beta of 1.30.

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

Insider Activity

In other news, Director Diane M. Morefield sold 30,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $1,160,200. This trade represents a 60.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Matt Blunt sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $57.66, for a total transaction of $2,883,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 315,480 shares of company stock worth $18,007,983. Company insiders own 9.68% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Argus downgraded shares of Copart from a “buy” rating to a “hold” rating in a research note on Friday. 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 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.