Copart, Inc. $CPRT Stake Lifted by Snyder Capital Management L P

Snyder Capital Management L P increased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 24.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,594,569 shares of the business services provider’s stock after purchasing an additional 309,237 shares during the period. Copart accounts for about 1.4% of Snyder Capital Management L P’s investment portfolio, making the stock its 27th largest holding. Snyder Capital Management L P owned 0.16% of Copart worth $71,708,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Copart by 2.4% in 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 buying an additional 2,581,784 shares during the period. Principal Financial Group Inc. raised its position in Copart by 3.2% in the third quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider’s stock worth $1,806,674,000 after acquiring an additional 1,236,101 shares in the last quarter. State Street Corp lifted its holdings in Copart by 3.3% in the 2nd quarter. State Street Corp now owns 36,406,503 shares of the business services provider’s stock valued at $1,786,467,000 after acquiring an additional 1,167,265 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Copart by 3.3% in the 2nd quarter. Geode Capital Management LLC now owns 20,462,076 shares of the business services provider’s stock valued at $999,305,000 after acquiring an additional 656,333 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Copart during the 2nd quarter valued at about $549,448,000. 85.78% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Jeffrey Liaw sold 25,137 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the transaction, the chief executive officer owned 55,970 shares of the company’s stock, valued at approximately $2,248,314.90. This trade represents a 30.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 9.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Copart Trading Down 1.4%

NASDAQ CPRT opened at $37.94 on Thursday. Copart, Inc. has a 1-year low of $33.81 and a 1-year high of $63.85. The firm’s fifty day simple moving average is $39.12 and its 200-day simple moving average is $42.01. The company has a market capitalization of $36.73 billion, a PE ratio of 23.71 and a beta of 1.09.

Copart (NASDAQ:CPRT) last issued 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 firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the firm earned $0.40 EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

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.