Copart, Inc. $CPRT Shares Acquired by Sterling Capital Management LLC

Sterling Capital Management LLC lifted its holdings in Copart, Inc. (NASDAQ:CPRT) by 429.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 503,923 shares of the business services provider’s stock after purchasing an additional 408,669 shares during the period. Sterling Capital Management LLC owned approximately 0.05% of Copart worth $24,728,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Copart by 2.1% in the first quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider’s stock worth $5,900,295,000 after acquiring an additional 2,134,890 shares in the last quarter. JPMorgan Chase & Co. raised its position in Copart by 15.9% in the 1st quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider’s stock valued at $868,417,000 after purchasing an additional 2,106,656 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Copart by 7.5% in the 1st quarter. Invesco Ltd. now owns 9,490,237 shares of the business services provider’s stock valued at $537,052,000 after buying an additional 658,329 shares during the period. Amundi grew its position in shares of Copart by 32.5% during the first quarter. Amundi now owns 9,380,026 shares of the business services provider’s stock worth $531,256,000 after buying an additional 2,299,192 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Copart by 0.7% during the first quarter. Northern Trust Corp now owns 8,927,156 shares of the business services provider’s stock worth $505,188,000 after buying an additional 61,855 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on CPRT shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. Hsbc Global Res raised shares of Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. HSBC set a $62.00 target price on Copart and gave the company a “buy” rating in a report on Thursday, September 4th. Stephens decreased their price target on 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 Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Copart presently has an average rating of “Moderate Buy” and a consensus target price of $54.50.

Copart Price Performance

NASDAQ CPRT opened at $39.98 on Friday. Copart, Inc. has a 1-year low of $39.58 and a 1-year high of $64.38. The business has a 50 day moving average price of $45.39 and a 200 day moving average price of $49.45. The company has a market capitalization of $38.69 billion, a P/E ratio of 24.99 and a beta of 1.06.

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 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 firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same period last year, the firm posted $0.33 EPS. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Activity at Copart

In other Copart news, Director Thomas N. Tryforos sold 228,840 shares of Copart stock in a transaction on Monday, September 15th. The shares were sold at an average price of $47.54, for a total value of $10,879,053.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jeffrey Liaw sold 24,283 shares of the company’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total value of $1,087,635.57. Following the sale, the chief executive officer owned 31,332 shares of the company’s stock, valued at approximately $1,403,360.28. The trade was a 43.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 9.60% of the company’s stock.

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.