Copart, Inc. $CPRT Shares Acquired by Perpetual Ltd

Perpetual Ltd lifted its position in shares of Copart, Inc. (NASDAQ:CPRT) by 0.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 203,767 shares of the business services provider’s stock after acquiring an additional 704 shares during the period. Perpetual Ltd’s holdings in Copart were worth $9,999,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CPRT. IFM Investors Pty Ltd raised its stake in Copart by 13.9% in the 2nd quarter. IFM Investors Pty Ltd now owns 173,709 shares of the business services provider’s stock valued at $8,524,000 after purchasing an additional 21,227 shares during the last quarter. Canoe Financial LP raised its stake in Copart by 16.0% in the 2nd quarter. Canoe Financial LP now owns 251,027 shares of the business services provider’s stock valued at $12,318,000 after purchasing an additional 34,700 shares during the last quarter. Triangle Securities Wealth Management raised its stake in Copart by 1.4% in the 2nd quarter. Triangle Securities Wealth Management now owns 23,042 shares of the business services provider’s stock valued at $1,131,000 after purchasing an additional 325 shares during the last quarter. Clare Market Investments LLC acquired a new position in Copart in the 2nd quarter valued at about $312,000. Finally, Trust Point Inc. raised its stake in Copart by 17.6% in the 2nd quarter. Trust Point Inc. now owns 9,457 shares of the business services provider’s stock valued at $464,000 after purchasing an additional 1,417 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Price Performance

NASDAQ CPRT opened at $45.85 on Friday. Copart, Inc. has a 12 month low of $45.05 and a 12 month high of $64.38. The company has a 50-day moving average of $47.22 and a 200-day moving average of $52.20. The company has a market cap of $44.33 billion, a P/E ratio of 28.66 and a beta of 1.03.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data 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. Copart had a net margin of 33.41% and a return on equity of 18.17%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the prior year, the company posted $0.33 EPS. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Insider Transactions at Copart

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

Wall Street Analysts Forecast Growth

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

About Copart

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.