PKO Investment Management Joint Stock Co Takes $1.16 Million Position in Copart, Inc. $CPRT

PKO Investment Management Joint Stock Co acquired a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the first quarter, Holdings Channel reports. The fund acquired 35,000 shares of the business services provider’s stock, valued at approximately $1,162,000.

Several other institutional investors have also made changes to their positions in the business. Norges Bank bought a new stake in Copart in the fourth quarter valued at about $569,569,000. Capital World Investors lifted its stake in Copart by 25.1% during the fourth quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock worth $1,085,588,000 after purchasing an additional 5,555,101 shares during the period. Capital International Investors bought a new position in Copart during the fourth quarter worth about $195,637,000. Deutsche Bank AG lifted its stake in Copart by 94.0% during the fourth quarter. Deutsche Bank AG now owns 9,955,661 shares of the business services provider’s stock worth $389,764,000 after purchasing an additional 4,823,111 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Copart by 21.7% during the fourth quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock valued at $860,618,000 after purchasing an additional 3,918,610 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other 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 value of $869,747.34. Following the transaction, the chief executive officer directly owned 79,532 shares of the company’s stock, valued at $2,638,871.76. The trade was a 24.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 9.60% of the company’s stock.

Wall Street Analyst Weigh In

CPRT has been the topic of several analyst reports. Weiss Ratings lowered Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Jefferies Financial Group set a $45.00 price target on Copart in a research note on Friday, May 22nd. Finally, Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $44.50.

Copart Stock Up 0.4%

Shares of CPRT stock opened at $29.60 on Wednesday. Copart, Inc. has a 12-month low of $29.41 and a 12-month high of $50.11. The company has a market capitalization of $27.40 billion, a P/E ratio of 18.39 and a beta of 1.00. The firm has a 50-day moving average price of $32.42 and a 200 day moving average price of $35.74.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Copart had a net margin of 33.48% and a return on equity of 16.63%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 earnings per share. As a group, research analysts expect that Copart, Inc. will post 1.58 earnings per share 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.