Nitorum Capital L.P. Sells 54,051 Shares of Copart, Inc. $CPRT

Nitorum Capital L.P. cut its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 16.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 284,375 shares of the business services provider’s stock after selling 54,051 shares during the period. Copart comprises approximately 2.3% of Nitorum Capital L.P.’s investment portfolio, making the stock its 21st largest holding. Nitorum Capital L.P.’s holdings in Copart were worth $16,093,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Cloud Capital Management LLC bought a new position in Copart during the 1st quarter valued at $26,000. Sunbelt Securities Inc. bought a new position in Copart during the 4th quarter valued at $31,000. Accent Capital Management LLC bought a new position in Copart during the 1st quarter valued at $36,000. Financial Network Wealth Advisors LLC lifted its stake in Copart by 152.6% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 783 shares of the business services provider’s stock valued at $44,000 after acquiring an additional 473 shares in the last quarter. Finally, SouthState Corp bought a new position in Copart during the 1st quarter valued at $45,000. 85.78% of the stock is currently owned by institutional investors.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of the business’s stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the completion of the transaction, the chief executive officer owned 31,527 shares of the company’s stock, valued at approximately $1,463,798.61. The trade was a 43.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.68% of the company’s stock.

Copart Stock Performance

Shares of Copart stock opened at $49.97 on Friday. Copart, Inc. has a 52-week low of $45.05 and a 52-week high of $64.38. The stock’s 50-day simple moving average is $47.46 and its 200 day simple moving average is $52.89. The stock has a market capitalization of $48.32 billion, a P/E ratio of 32.88 and a beta of 1.03.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.14 billion. Copart had a return on equity of 18.20% and a net margin of 32.21%.The company’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.33 EPS. Equities research analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Robert W. Baird lowered their target price on Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, July 17th. Stephens assumed coverage on Copart in a research note on Tuesday, July 8th. They set an “equal weight” rating and a $50.00 target price on the stock. HSBC set a $62.00 target price on Copart and gave the stock a “buy” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. lowered their target price on Copart from $60.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $55.50.

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.