Life Cycle Investment Partners Ltd Purchases Shares of 502,742 Copart, Inc. $CPRT

Life Cycle Investment Partners Ltd purchased a new stake in Copart, Inc. (NASDAQ:CPRTFree Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 502,742 shares of the business services provider’s stock, valued at approximately $19,682,000.

A number of other large investors also recently bought and sold shares of CPRT. Vanguard Group Inc. increased its position 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 in the last quarter. Principal Financial Group Inc. increased its position in shares of 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 valued at $1,806,674,000 after buying an additional 1,236,101 shares in the last quarter. State Street Corp increased its position in shares of Copart by 1.8% in the third quarter. State Street Corp now owns 37,062,931 shares of the business services provider’s stock valued at $1,666,720,000 after buying an additional 656,428 shares in the last quarter. Invesco Ltd. increased its position in shares of Copart by 7.6% in the third quarter. Invesco Ltd. now owns 10,931,871 shares of the business services provider’s stock valued at $491,606,000 after buying an additional 771,573 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Copart by 1.1% in the third quarter. Northern Trust Corp now owns 8,931,216 shares of the business services provider’s stock valued at $401,637,000 after buying an additional 97,411 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Stock Performance

Shares of CPRT opened at $33.79 on Friday. Copart, Inc. has a one year low of $32.20 and a one year high of $58.07. The stock has a market capitalization of $32.55 billion, a price-to-earnings ratio of 20.99 and a beta of 1.02. The stock has a 50 day moving average price of $33.28 and a 200 day moving average price of $37.21.

Copart (NASDAQ:CPRTGet Free Report) last issued its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.41 by $0.02. Copart had a return on equity of 16.31% and a net margin of 33.48%.The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the business earned $0.42 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 26,213 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the completion of the sale, the chief executive officer directly owned 79,532 shares in the company, valued at approximately $2,638,871.76. The trade was a 24.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on CPRT shares. Robert W. Baird set a $48.00 price objective on Copart and gave the company an “outperform” rating in a research report on Friday, February 20th. JPMorgan Chase & Co. cut their price objective on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, February 23rd. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Weiss Ratings cut Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Finally, Barclays restated an “underweight” rating and issued a $32.00 price objective (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $44.50.

Read Our Latest Analysis on CPRT

Copart News Roundup

Here are the key news stories impacting Copart this week:

Copart Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Copart (NASDAQ:CPRT)

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