Intech Investment Management LLC Has $2.71 Million Position in Copart, Inc. $CPRT

Intech Investment Management LLC cut its holdings in Copart, Inc. (NASDAQ:CPRT) by 29.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,240 shares of the business services provider’s stock after selling 22,578 shares during the period. Intech Investment Management LLC’s holdings in Copart were worth $2,711,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Nuveen LLC acquired a new position in Copart in the first quarter valued at approximately $267,723,000. Fiera Capital Corp increased its stake in shares of Copart by 75.3% in the 2nd quarter. Fiera Capital Corp now owns 7,000,430 shares of the business services provider’s stock valued at $343,511,000 after acquiring an additional 3,007,820 shares in the last quarter. PineStone Asset Management Inc. increased its stake in shares of Copart by 56.4% in the 2nd 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 lifted its position in shares of Copart by 32.5% during the 1st 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 during the period. Finally, Vanguard Group Inc. boosted 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 worth $5,900,295,000 after acquiring an additional 2,134,890 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jeffrey Liaw sold 24,283 shares of the stock in a transaction on Wednesday, October 15th. The stock was 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 directly owned 31,332 shares of the company’s stock, valued at approximately $1,403,360.28. This represents a 43.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas N. Tryforos sold 228,840 shares of the firm’s stock in a transaction 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 SEC filing for this sale provides additional information. 9.60% of the stock is owned by company insiders.

Copart Price Performance

Shares of NASDAQ CPRT opened at $41.37 on Thursday. The company has a 50-day moving average price of $44.06 and a 200-day moving average price of $48.16. The stock has a market capitalization of $40.04 billion, a P/E ratio of 25.86 and a beta of 1.06. Copart, Inc. has a 1 year low of $39.58 and a 1 year high of $64.38.

Copart (NASDAQ:CPRT) last posted its earnings results 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 company had revenue of $1.13 billion for 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 firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.33 EPS. As a group, equities research analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.