Aberdeen Group plc Acquires 14,413 Shares of Copart, Inc. $CPRT

Aberdeen Group plc increased its holdings in Copart, Inc. (NASDAQ:CPRT) by 2.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 511,873 shares of the business services provider’s stock after buying an additional 14,413 shares during the period. Aberdeen Group plc’s holdings in Copart were worth $25,118,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Nuveen LLC purchased a new position in Copart during the first quarter valued at approximately $267,723,000. Fiera Capital Corp grew its stake in Copart by 195.6% during the first quarter. Fiera Capital Corp now owns 3,992,610 shares of the business services provider’s stock valued at $225,942,000 after acquiring an additional 2,642,100 shares in the last quarter. PineStone Asset Management Inc. grew its stake in Copart by 56.4% during the second quarter. PineStone Asset Management Inc. now owns 6,407,471 shares of the business services provider’s stock valued at $314,415,000 after acquiring an additional 2,310,067 shares in the last quarter. Amundi grew its stake in Copart by 32.5% during the first quarter. Amundi now owns 9,380,026 shares of the business services provider’s stock valued at $531,256,000 after acquiring an additional 2,299,192 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Copart by 2.1% during the first quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider’s stock valued at $5,900,295,000 after acquiring an additional 2,134,890 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CPRT. Hsbc Global Res raised shares of Copart from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 4th. Stephens reduced their price objective 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. Robert W. Baird reduced their price objective 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. Weiss Ratings reissued a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.50.

Copart Stock Performance

Shares of CPRT opened at $44.07 on Tuesday. The firm has a market cap of $42.65 billion, a price-to-earnings ratio of 27.54 and a beta of 1.03. Copart, Inc. has a fifty-two week low of $43.71 and a fifty-two week high of $64.38. The firm has a 50 day moving average price of $46.77 and a 200-day moving average price of $51.15.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.14 billion. Copart had a net margin of 33.41% and a return on equity of 18.17%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.33 EPS. As a group, equities research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Buying and Selling at Copart

In other news, Director Thomas N. Tryforos sold 228,840 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $47.54, for a total value of $10,879,053.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 9.68% of the company’s stock.

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.