Copart, Inc. $CPRT Shares Purchased by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. boosted its holdings in Copart, Inc. (NASDAQ:CPRT) by 49.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 57,604 shares of the business services provider’s stock after acquiring an additional 19,011 shares during the period. LGT Fund Management Co Ltd.’s holdings in Copart were worth $2,827,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CPRT. Cloud Capital Management LLC acquired a new position in Copart in the first quarter valued at approximately $26,000. Atticus Wealth Management LLC acquired a new position in Copart in the second quarter valued at approximately $31,000. Ameritas Advisory Services LLC purchased a new stake in Copart in the second quarter valued at approximately $31,000. Accent Capital Management LLC purchased a new stake in Copart in the first quarter valued at approximately $36,000. Finally, Financial Network Wealth Advisors LLC raised its position in Copart by 152.6% in the first quarter. Financial Network Wealth Advisors LLC now owns 783 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 473 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CPRT shares. Robert W. Baird cut their target price on Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, July 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Copart in a research report on Saturday, September 27th. Stephens cut their target price on Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Friday, September 5th. HSBC set a $62.00 target price on Copart and gave the company a “buy” rating in a research report on Thursday, September 4th. Finally, Hsbc Global Res raised Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $54.50.

Copart Trading Up 1.2%

Copart stock opened at $45.11 on Friday. Copart, Inc. has a twelve month low of $44.23 and a twelve month high of $64.38. The stock’s fifty day simple moving average is $46.97 and its 200-day simple moving average is $51.64. The firm has a market capitalization of $43.65 billion, a P/E ratio of 28.19 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. Copart had a return on equity of 18.17% and a net margin of 33.41%.The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the prior year, the company earned $0.33 earnings per share. The company’s revenue was up 2.9% on a year-over-year basis. Sell-side analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Buying and Selling at Copart

In related news, Director Thomas N. Tryforos sold 228,840 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $47.54, for a total value of $10,879,053.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jeffrey Liaw sold 24,088 shares of the stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total value of $1,118,405.84. Following the completion of the transaction, the chief executive officer directly owned 31,527 shares in the company, valued at $1,463,798.61. This trade represents a 43.31% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.68% of the company’s stock.

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.