6,350 Shares in Copart, Inc. $CPRT Bought by Clare Market Investments LLC

Clare Market Investments LLC bought a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,350 shares of the business services provider’s stock, valued at approximately $312,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sowell Financial Services LLC bought a new position in Copart during the first quarter valued at $604,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Copart by 52.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 23,862 shares of the business services provider’s stock valued at $1,350,000 after acquiring an additional 8,181 shares during the period. Handelsbanken Fonder AB raised its stake in shares of Copart by 53.3% in the first quarter. Handelsbanken Fonder AB now owns 854,336 shares of the business services provider’s stock valued at $48,347,000 after acquiring an additional 297,210 shares during the period. 111 Capital purchased a new stake in shares of Copart in the fourth quarter valued at $967,000. Finally, Private Trust Co. NA raised its stake in shares of Copart by 16.5% in the first quarter. Private Trust Co. NA now owns 4,142 shares of the business services provider’s stock valued at $234,000 after acquiring an additional 586 shares during the period. Institutional investors own 85.78% of the company’s stock.

Insider Transactions at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of the firm’s stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total value of $1,118,405.84. Following the sale, the chief executive officer directly owned 31,527 shares in the company, valued at approximately $1,463,798.61. This trade represents a 43.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas N. Tryforos sold 228,840 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $47.54, for a total transaction of $10,879,053.60. The disclosure for this sale can be found here. 9.68% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CPRT. JPMorgan Chase & Co. reduced their target price on shares of Copart from $60.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. Robert W. Baird reduced their price target on shares of Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, July 17th. HSBC set a $62.00 price target on shares of Copart and gave the stock a “buy” rating in a research note on Thursday, September 4th. Hsbc Global Res raised shares of Copart from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 4th. Finally, Stephens reduced their price target on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.50.

Copart Stock Performance

NASDAQ CPRT opened at $45.46 on Friday. The company has a market capitalization of $43.96 billion, a price-to-earnings ratio of 28.41 and a beta of 1.03. The company’s 50-day simple moving average is $47.26 and its two-hundred day simple moving average is $52.26. Copart, Inc. has a one year low of $45.05 and a one year high of $64.38.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, September 4th. The business services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.14 billion. Copart had a net margin of 33.41% and a return on equity of 18.17%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.33 EPS. Equities analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Copart Company Profile

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.