Pacer Advisors Inc. Buys 240,621 Shares of Copart, Inc. $CPRT

Pacer Advisors Inc. grew its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 9.5% in the first quarter, Holdings Channel reports. The institutional investor owned 2,764,394 shares of the business services provider’s stock after purchasing an additional 240,621 shares during the period. Pacer Advisors Inc.’s holdings in Copart were worth $91,778,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in CPRT. Brighton Jones LLC increased its stake in Copart by 92.1% in the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock valued at $816,000 after acquiring an additional 6,817 shares during the period. Geneos Wealth Management Inc. lifted its stake 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 purchasing an additional 878 shares during the period. Jump Financial LLC acquired a new stake in Copart during the second quarter valued at approximately $2,677,000. Sei Investments Co. grew its stake in shares of Copart by 110.0% in the 2nd quarter. Sei Investments Co. now owns 900,330 shares of the business services provider’s stock valued at $44,179,000 after purchasing an additional 471,571 shares during the period. Finally, Treasurer of the State of North Carolina grew its stake in shares of Copart by 3.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 413,083 shares of the business services provider’s stock valued at $20,270,000 after purchasing an additional 13,860 shares during the period. 85.78% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total value of $845,945.05. Following the completion of the transaction, the chief executive officer owned 99,641 shares in the company, valued at approximately $3,038,054.09. The trade was a 21.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 9.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on CPRT. Freedom Capital upgraded Copart to a “strong-buy” rating in a research report on Friday, June 26th. Jefferies Financial Group set a $45.00 price target on Copart in a research report on Friday, May 22nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Copart in a research report on Wednesday. Barclays set a $26.00 price objective on Copart and gave the stock an “underweight” rating in a research note on Tuesday, July 21st. Finally, Zacks Research cut Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. Three investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $43.50.

Copart Stock Performance

NASDAQ CPRT opened at $29.12 on Monday. The firm has a market cap of $26.96 billion, a price-to-earnings ratio of 18.09 and a beta of 1.02. The company has a 50 day moving average of $29.82 and a 200-day moving average of $33.72. Copart, Inc. has a 1-year low of $26.81 and a 1-year high of $50.11.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Copart had a net margin of 33.48% and a return on equity of 16.63%. Copart’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 earnings per share. On average, analysts forecast that Copart, Inc. will post 1.58 earnings per share for the current year.

About Copart

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.