Johnson Investment Counsel Inc. Decreases Stock Position in Copart, Inc. (NASDAQ:CPRT)

Johnson Investment Counsel Inc. lessened its stake in Copart, Inc. (NASDAQ:CPRT) by 4.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,055 shares of the business services provider’s stock after selling 295 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Copart were worth $643,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CPRT. Acadian Asset Management LLC raised its position in shares of Copart by 945.2% in the 2nd quarter. Acadian Asset Management LLC now owns 85,828 shares of the business services provider’s stock valued at $7,821,000 after purchasing an additional 77,616 shares in the last quarter. Citigroup Inc. raised its position in shares of Copart by 14.5% in the 2nd quarter. Citigroup Inc. now owns 390,573 shares of the business services provider’s stock valued at $35,624,000 after purchasing an additional 49,516 shares in the last quarter. KBC Group NV raised its position in shares of Copart by 742.9% in the 1st quarter. KBC Group NV now owns 118,906 shares of the business services provider’s stock valued at $8,943,000 after purchasing an additional 104,800 shares in the last quarter. Howland Capital Management LLC acquired a new position in shares of Copart in the 1st quarter valued at approximately $223,000. Finally, Jump Financial LLC acquired a new position in shares of Copart in the 1st quarter valued at approximately $8,490,000. Hedge funds and other institutional investors own 79.26% of the company’s stock.

Insiders Place Their Bets

In other Copart news, Director Matt Blunt sold 49,435 shares of the stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $43.11, for a total value of $2,131,142.85. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Matt Blunt sold 49,435 shares of the stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $43.11, for a total value of $2,131,142.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen Fisher sold 160,000 shares of the stock in a transaction on Monday, October 9th. The stock was sold at an average price of $45.69, for a total value of $7,310,400.00. The disclosure for this sale can be found here. 10.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CPRT shares. Argus started coverage on Copart in a research report on Friday, September 8th. They issued a “buy” rating and a $53.00 target price on the stock. StockNews.com raised Copart from a “hold” rating to a “buy” rating in a research report on Monday, October 30th. Robert W. Baird upped their price target on Copart from $45.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, September 15th. Finally, JPMorgan Chase & Co. upped their price target on Copart from $39.50 to $41.00 in a research report on Monday, September 18th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $44.40.

Copart Price Performance

Shares of NASDAQ CPRT opened at $50.85 on Tuesday. Copart, Inc. has a 1-year low of $29.61 and a 1-year high of $51.53. The business’s fifty day moving average price is $45.16 and its two-hundred day moving average price is $46.57. The firm has a market capitalization of $48.83 billion, a PE ratio of 37.39 and a beta of 1.19.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, November 16th. The business services provider reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. Copart had a return on equity of 22.46% and a net margin of 31.99%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $987.90 million. During the same period last year, the company earned $0.25 earnings per share. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. Equities research analysts expect that Copart, Inc. will post 1.42 earnings per share for the current fiscal 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.