TD Waterhouse Canada Inc. Purchases 317,383 Shares of Copart, Inc. $CPRT

TD Waterhouse Canada Inc. increased its holdings in Copart, Inc. (NASDAQ:CPRT) by 228.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 456,184 shares of the business services provider’s stock after purchasing an additional 317,383 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Copart were worth $13,126,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CPRT. C M Bidwell & Associates Ltd. bought a new position in Copart during the 2nd quarter valued at approximately $25,000. Versant Capital Management Inc grew its position in shares of Copart by 110.9% in the 2nd quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock worth $27,000 after buying an additional 498 shares during the last quarter. Cache Advisors LLC bought a new stake in shares of Copart in the 1st quarter worth approximately $31,000. Compass Financial Management LLC purchased a new position in shares of Copart during the second quarter valued at approximately $33,000. Finally, Reflection Asset Management purchased a new position in shares of Copart during the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft set a $40.00 price target on Copart in a research note on Thursday. Zacks Research cut shares of Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Jefferies Financial Group set a $45.00 price target on shares of Copart in a research report on Friday, May 22nd. JPMorgan Chase & Co. upgraded shares of Copart from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $32.00 to $40.00 in a report on Thursday. Finally, Barclays set a $25.00 price objective on Copart and gave the company an “underweight” rating in a research report on Wednesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Copart has a consensus rating of “Hold” and a consensus price target of $38.83.

Insider Transactions at Copart

In other news, CEO Jeffrey Liaw sold 27,745 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the sale, the chief executive officer owned 99,641 shares of the company’s stock, valued at $3,038,054.09. This trade represents a 21.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 9.60% of the company’s stock.

Copart Stock Performance

Shares of Copart stock opened at $33.72 on Friday. Copart, Inc. has a 52-week low of $26.81 and a 52-week high of $49.16. The stock has a market capitalization of $31.22 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 2.03 and a beta of 1.03. The company has a 50-day simple moving average of $30.07 and a two-hundred day simple moving average of $32.26.

Copart Company 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.