Concurrent Investment Advisors LLC Has $242,000 Position in Copart, Inc. (NASDAQ:CPRT)

Concurrent Investment Advisors LLC cut its holdings in Copart, Inc. (NASDAQ:CPRT) by 24.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,274 shares of the business services provider’s stock after selling 1,366 shares during the period. Concurrent Investment Advisors LLC’s holdings in Copart were worth $242,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Sandy Spring Bank increased its holdings in Copart by 59.5% in the fourth quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock worth $27,000 after purchasing an additional 176 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of Copart during the 4th quarter worth approximately $31,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Copart in the 4th quarter valued at $45,000. Versant Capital Management Inc lifted its position in shares of Copart by 1,567.9% during the 1st quarter. Versant Capital Management Inc now owns 884 shares of the business services provider’s stock valued at $50,000 after acquiring an additional 831 shares during the period. Finally, Curio Wealth LLC bought a new position in Copart during the fourth quarter worth $52,000. 85.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on CPRT. JPMorgan Chase & Co. decreased their price target on shares of Copart from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, May 23rd. Stephens assumed coverage on Copart in a research note on Tuesday, July 8th. They set an “equal weight” rating and a $50.00 price target on the stock.

Insider Buying and Selling

In other news, Director Steven D. Cohan sold 94,997 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $60.01, for a total value of $5,700,769.97. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 9.68% of the company’s stock.

Copart Trading Down 1.1%

CPRT opened at $47.46 on Friday. Copart, Inc. has a 1-year low of $47.33 and a 1-year high of $64.38. The company has a market cap of $45.89 billion, a price-to-earnings ratio of 31.22 and a beta of 1.07. The company’s fifty day moving average price is $53.03 and its two-hundred day moving average price is $55.71.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, May 22nd. The business services provider reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. Copart had a net margin of 32.21% and a return on equity of 18.20%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the firm posted $0.39 earnings per share. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. As a group, equities analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Copart Company 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.