Empowered Funds LLC Has $9.71 Million Stock Holdings in Copart, Inc. $CPRT

Empowered Funds LLC lifted its position in shares of Copart, Inc. (NASDAQ:CPRT) by 93.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 197,822 shares of the business services provider’s stock after buying an additional 95,357 shares during the quarter. Empowered Funds LLC’s holdings in Copart were worth $9,707,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Copart by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 106,408,868 shares of the business services provider’s stock worth $5,221,483,000 after purchasing an additional 2,144,946 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Copart by 3.3% during the second quarter. Geode Capital Management LLC now owns 20,462,076 shares of the business services provider’s stock worth $999,305,000 after purchasing an additional 656,333 shares during the period. JPMorgan Chase & Co. raised its position in shares of Copart by 15.9% in the first quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider’s stock valued at $868,417,000 after buying an additional 2,106,656 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Copart by 7.5% in the first quarter. Invesco Ltd. now owns 9,490,237 shares of the business services provider’s stock valued at $537,052,000 after buying an additional 658,329 shares during the period. Finally, Amundi grew its position in Copart by 32.5% during the first quarter. Amundi now owns 9,380,026 shares of the business services provider’s stock worth $531,256,000 after buying an additional 2,299,192 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Copart

In related news, Director Thomas N. Tryforos sold 228,840 shares of Copart stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $47.54, for a total value of $10,879,053.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jeffrey Liaw sold 24,283 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total value of $1,087,635.57. Following the completion of the sale, the chief executive officer owned 31,332 shares in the company, valued at $1,403,360.28. The trade was a 43.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 9.60% of the stock is owned by company insiders.

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $41.32 on Wednesday. Copart, Inc. has a 52 week low of $39.58 and a 52 week high of $64.38. The firm has a market cap of $39.99 billion, a PE ratio of 25.83 and a beta of 1.06. The firm’s fifty day moving average is $44.20 and its 200-day moving average is $48.20.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.04. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.14 billion. Copart had a return on equity of 18.17% and a net margin of 33.41%.Copart’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the company earned $0.33 EPS. Sell-side analysts forecast that Copart, Inc. will post 1.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Stephens lowered their price target on Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a report on Friday, September 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. Hsbc Global Res upgraded Copart from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 4th. HSBC set a $62.00 price objective on Copart and gave the company a “buy” rating in a report on Thursday, September 4th. Finally, Barclays set a $32.00 target price on Copart in a report on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $50.00.

Copart Company Profile

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.