Nisa Investment Advisors LLC Cuts Position in Copart, Inc. $CPRT

Nisa Investment Advisors LLC cut its holdings in Copart, Inc. (NASDAQ:CPRT) by 2.5% in the second quarter, Holdings Channel reports. The institutional investor owned 445,645 shares of the business services provider’s stock after selling 11,403 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Copart were worth $21,868,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Cloud Capital Management LLC purchased a new stake in Copart in the 1st quarter worth $26,000. Atticus Wealth Management LLC purchased a new stake in shares of Copart during the second quarter worth about $31,000. Ameritas Advisory Services LLC purchased a new stake in shares of Copart during the second quarter worth about $31,000. Accent Capital Management LLC purchased a new stake in shares of Copart during the first quarter worth about $36,000. Finally, GFG Capital LLC purchased a new stake in shares of Copart during the second quarter worth about $37,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Down 0.0%

Shares of NASDAQ:CPRT opened at $44.66 on Monday. The business has a fifty day moving average of $46.39 and a two-hundred day moving average of $50.44. The stock has a market cap of $43.22 billion, a P/E ratio of 27.91 and a beta of 1.03. Copart, Inc. has a 52-week low of $43.32 and a 52-week high of $64.38.

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

Analysts Set New Price Targets

Several equities research analysts have commented on CPRT shares. HSBC set a $62.00 price objective on Copart and gave the stock a “buy” rating in a research note on Thursday, September 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a research note on Friday. Hsbc Global Res raised shares of Copart from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. Stephens dropped their target price on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a report on Friday, September 5th. Finally, Robert W. Baird dropped their price objective 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. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.50.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 24,283 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total value of $1,087,635.57. Following the completion of the sale, the chief executive officer owned 31,332 shares of the company’s stock, valued at $1,403,360.28. This represents a 43.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Thomas N. Tryforos sold 228,840 shares of the stock in a transaction that occurred 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 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.