Handelsbanken Fonder AB Raises Holdings in Copart, Inc. $CPRT

Handelsbanken Fonder AB lifted its position in shares of Copart, Inc. (NASDAQ:CPRT) by 6.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 578,452 shares of the business services provider’s stock after acquiring an additional 34,855 shares during the quarter. Handelsbanken Fonder AB’s holdings in Copart were worth $16,307,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC increased its stake in shares of Copart by 14.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 333,624 shares of the business services provider’s stock worth $11,076,000 after purchasing an additional 41,060 shares during the last quarter. ABN Amro Investment Solutions raised its holdings in shares of Copart by 82.5% during the 4th quarter. ABN Amro Investment Solutions now owns 199,794 shares of the business services provider’s stock valued at $7,822,000 after purchasing an additional 90,339 shares in the last quarter. Davidson Kahn Capital Management LLC lifted its stake in shares of Copart by 56.3% in the 4th quarter. Davidson Kahn Capital Management LLC now owns 100,151 shares of the business services provider’s stock valued at $3,921,000 after purchasing an additional 36,091 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Copart by 7.3% in the 4th quarter. Assetmark Inc. now owns 507,255 shares of the business services provider’s stock valued at $19,859,000 after purchasing an additional 34,410 shares during the last quarter. Finally, Wilkins Investment Counsel Inc. boosted its holdings in Copart by 125.3% in the fourth quarter. Wilkins Investment Counsel Inc. now owns 191,295 shares of the business services provider’s stock worth $7,489,000 after purchasing an additional 106,385 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Trading Down 1.4%

NASDAQ:CPRT opened at $28.99 on Thursday. Copart, Inc. has a 1 year low of $26.81 and a 1 year high of $50.11. The firm’s fifty day simple moving average is $29.31 and its 200 day simple moving average is $33.07. The firm has a market capitalization of $26.84 billion, a PE ratio of 18.01 and a beta of 1.01.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. Copart had a net margin of 33.48% and a return on equity of 16.63%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the business earned $0.42 EPS. The business’s revenue was up 2.1% on a year-over-year basis. As a group, analysts anticipate that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on CPRT shares. Barclays set a $26.00 target price on shares of Copart and gave the stock an “underweight” rating in a research report on Tuesday, July 21st. Freedom Capital upgraded Copart to a “strong-buy” rating in a research note on Friday, June 26th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Copart in a research note on Wednesday, July 29th. Jefferies Financial Group set a $45.00 price objective on Copart in a report on Friday, May 22nd. Finally, Zacks Research downgraded Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Three equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $43.50.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total value of $845,945.05. Following the transaction, the chief executive officer directly owned 99,641 shares in the company, valued at approximately $3,038,054.09. The trade was a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 9.60% of the company’s stock.

Copart Profile

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.