Quantum Capital Management LLC NJ Increases Stock Holdings in Copart, Inc. $CPRT

Quantum Capital Management LLC NJ lifted its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 18.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,626,405 shares of the business services provider’s stock after acquiring an additional 252,961 shares during the quarter. Copart comprises approximately 8.0% of Quantum Capital Management LLC NJ’s portfolio, making the stock its 4th largest holding. Quantum Capital Management LLC NJ’s holdings in Copart were worth $73,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of CPRT. Norges Bank bought a new position in Copart during the 2nd quarter valued at about $549,448,000. Fiera Capital Corp grew its stake in shares of Copart by 75.3% in the second quarter. Fiera Capital Corp now owns 7,000,430 shares of the business services provider’s stock worth $343,511,000 after acquiring an additional 3,007,820 shares during the period. First Trust Advisors LP grew its stake in shares of Copart by 75.2% in the second quarter. First Trust Advisors LP now owns 6,579,404 shares of the business services provider’s stock worth $322,851,000 after acquiring an additional 2,824,991 shares during the period. Vanguard Group Inc. raised its holdings in shares of Copart by 2.4% during the third quarter. Vanguard Group Inc. now owns 108,990,652 shares of the business services provider’s stock valued at $4,901,310,000 after purchasing an additional 2,581,784 shares during the last quarter. Finally, Jensen Investment Management Inc. raised its holdings in shares of Copart by 39.4% during the second quarter. Jensen Investment Management Inc. now owns 5,315,861 shares of the business services provider’s stock valued at $260,849,000 after purchasing an additional 1,503,771 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Activity

In other news, CEO Jeffrey Liaw sold 25,137 shares of the company’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total value of $1,009,753.29. Following the completion of the sale, the chief executive officer directly owned 55,970 shares in the company, valued at $2,248,314.90. This represents a 30.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 9.60% of the stock is currently owned by insiders.

Copart Trading Down 0.8%

CPRT opened at $37.72 on Friday. The company’s 50 day moving average is $39.07 and its 200 day moving average is $41.87. The company has a market cap of $36.34 billion, a price-to-earnings ratio of 23.58 and a beta of 1.09. Copart, Inc. has a 12-month low of $33.81 and a 12-month high of $63.85.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, February 19th. The business services provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). Copart had a net margin of 33.76% and a return on equity of 16.68%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the company posted $0.40 earnings per share. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CPRT has been the topic of several research reports. CJS Securities upgraded shares of Copart to a “strong-buy” rating in a report on Thursday, December 11th. JPMorgan Chase & Co. decreased their target price on shares of Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Zacks Research cut Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 24th. Robert W. Baird set a $48.00 price target on Copart and gave the stock an “outperform” rating in a research note on Friday, February 20th. Finally, Barclays reaffirmed an “underweight” rating and issued a $32.00 price objective (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $44.40.

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.