Motley Fool Asset Management LLC Boosts Holdings in Copart, Inc. $CPRT

Motley Fool Asset Management LLC raised its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 35.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 90,037 shares of the business services provider’s stock after purchasing an additional 23,560 shares during the period. Motley Fool Asset Management LLC’s holdings in Copart were worth $3,525,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Focus Partners Advisor Solutions LLC increased its holdings in Copart by 98.3% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 23,857 shares of the business services provider’s stock valued at $934,000 after acquiring an additional 11,824 shares in the last quarter. Advocacy Wealth Management LLC increased its holdings in Copart by 13.8% during the 4th quarter. Advocacy Wealth Management LLC now owns 23,227 shares of the business services provider’s stock valued at $909,000 after acquiring an additional 2,816 shares in the last quarter. Beddow Capital Management Inc. increased its holdings in Copart by 44.4% during the 4th quarter. Beddow Capital Management Inc. now owns 94,590 shares of the business services provider’s stock valued at $3,703,000 after acquiring an additional 29,105 shares in the last quarter. Claret Asset Management Corp increased its holdings in Copart by 5.1% during the 4th quarter. Claret Asset Management Corp now owns 6,830 shares of the business services provider’s stock valued at $267,000 after acquiring an additional 329 shares in the last quarter. Finally, CenterBook Partners LP increased its holdings in Copart by 146.8% during the 4th quarter. CenterBook Partners LP now owns 53,144 shares of the business services provider’s stock valued at $2,081,000 after acquiring an additional 31,615 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Price Performance

Copart stock opened at $31.36 on Thursday. Copart, Inc. has a 12-month low of $29.97 and a 12-month high of $50.91. The stock has a market capitalization of $29.03 billion, a P/E ratio of 19.48 and a beta of 1.00. The firm’s 50-day moving average is $32.94 and its two-hundred day moving average is $36.31.

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

Insider Activity

In related news, CEO Jeffrey Liaw sold 26,213 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total value of $869,747.34. Following the sale, the chief executive officer directly owned 79,532 shares of the company’s stock, valued at approximately $2,638,871.76. This trade represents a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 9.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on CPRT shares. Barclays restated an “underweight” rating and set a $32.00 target price (down from $33.00) on shares of Copart in a report on Monday, February 23rd. JPMorgan Chase & Co. decreased their price target on shares of Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Zacks Research raised shares of Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Jefferies Financial Group set a $45.00 price target on shares of Copart in a research note on Friday, May 22nd. Finally, Weiss Ratings cut shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $44.50.

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.