Invst LLC Makes New Investment in Copart, Inc. $CPRT

Invst LLC bought a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 37,581 shares of the business services provider’s stock, valued at approximately $2,127,000.

A number of other hedge funds also recently bought and sold shares of the stock. Strs Ohio purchased a new stake in Copart during the first quarter worth $12,594,000. Jacobi Capital Management LLC lifted its holdings in Copart by 9.4% during the first quarter. Jacobi Capital Management LLC now owns 5,414 shares of the business services provider’s stock worth $306,000 after buying an additional 467 shares during the period. Advisors Capital Management LLC lifted its holdings in Copart by 5.9% during the first quarter. Advisors Capital Management LLC now owns 7,490 shares of the business services provider’s stock worth $424,000 after buying an additional 418 shares during the period. WBI Investments LLC purchased a new stake in Copart during the first quarter worth $714,000. Finally, Geneos Wealth Management Inc. lifted its holdings in Copart by 365.8% during the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock worth $63,000 after buying an additional 878 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of Copart stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the completion of the sale, the chief executive officer directly owned 31,527 shares in the company, valued at approximately $1,463,798.61. The trade was a 43.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 9.68% of the company’s stock.

Copart Trading Up 0.8%

NASDAQ:CPRT opened at $48.90 on Friday. Copart, Inc. has a 12 month low of $45.05 and a 12 month high of $64.38. The firm has a fifty day simple moving average of $47.41 and a 200-day simple moving average of $52.56. The company has a market capitalization of $47.28 billion, a P/E ratio of 30.56 and a beta of 1.03.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.37 by $0.04. Copart had a net margin of 33.41% and a return on equity of 18.17%. The business had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period in the previous year, the firm posted $0.33 earnings per share. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. Equities analysts forecast that Copart, Inc. will post 1.57 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. JPMorgan Chase & Co. lowered their target price on Copart from $60.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, May 23rd. HSBC set a $62.00 target price on shares of Copart and gave the company a “buy” rating in a research note on Thursday, September 4th. Robert W. Baird lowered their target price on shares of Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, July 17th. Stephens lowered their target price on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a research note on Friday, September 5th. Finally, Hsbc Global Res upgraded shares of Copart from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.50.

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.