Ipswich Investment Management Co. Inc. Invests $304,000 in Copart, Inc. (NASDAQ:CPRT)

Ipswich Investment Management Co. Inc. purchased a new position in Copart, Inc. (NASDAQ:CPRT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,290 shares of the business services provider’s stock, valued at approximately $304,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cadence Bank increased its position in Copart by 0.6% in the 3rd quarter. Cadence Bank now owns 31,549 shares of the business services provider’s stock worth $1,653,000 after purchasing an additional 178 shares during the last quarter. Everpar Advisors LLC increased its position in Copart by 4.3% in the 4th quarter. Everpar Advisors LLC now owns 4,811 shares of the business services provider’s stock worth $276,000 after purchasing an additional 199 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its position in Copart by 2.3% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 9,226 shares of the business services provider’s stock worth $529,000 after purchasing an additional 208 shares during the last quarter. Covestor Ltd increased its position in Copart by 5.1% in the 3rd quarter. Covestor Ltd now owns 4,299 shares of the business services provider’s stock worth $225,000 after purchasing an additional 209 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its position in Copart by 0.8% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 27,631 shares of the business services provider’s stock worth $1,447,000 after purchasing an additional 213 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. increased their price objective on Copart from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 19th.

Copart Stock Performance

Shares of NASDAQ CPRT opened at $56.61 on Friday. The firm has a market cap of $54.55 billion, a price-to-earnings ratio of 39.87 and a beta of 1.33. The business’s 50-day simple moving average is $57.97 and its 200-day simple moving average is $55.65. Copart, Inc. has a 52 week low of $48.05 and a 52 week high of $64.38.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. Copart had a return on equity of 18.96% and a net margin of 31.92%. As a group, equities research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Activity

In other Copart news, Director Daniel J. Englander sold 235,480 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $56.84, for a total value of $13,384,683.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman A Jayson Adair sold 251,423 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $920,907,971.03. This trade represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 650,213 shares of company stock valued at $39,199,813. 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.