Burgundy Asset Management Ltd. Sells 453,573 Shares of Copart, Inc. $CPRT

Burgundy Asset Management Ltd. trimmed its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 58.1% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 327,128 shares of the business services provider’s stock after selling 453,573 shares during the quarter. Burgundy Asset Management Ltd.’s holdings in Copart were worth $16,052,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. California Public Employees Retirement System raised its position in Copart by 89.0% in the 2nd quarter. California Public Employees Retirement System now owns 2,548,275 shares of the business services provider’s stock valued at $125,044,000 after buying an additional 1,200,035 shares during the last quarter. Cerity Partners LLC raised its position in Copart by 4.7% during the second quarter. Cerity Partners LLC now owns 321,366 shares of the business services provider’s stock worth $15,769,000 after acquiring an additional 14,284 shares in the last quarter. Jump Financial LLC acquired a new stake in Copart in the 2nd quarter valued at about $2,677,000. Cresset Asset Management LLC lifted its position in shares of Copart by 1.8% in the second quarter. Cresset Asset Management LLC now owns 339,742 shares of the business services provider’s stock valued at $16,671,000 after buying an additional 5,966 shares during the last quarter. Finally, Tema Etfs LLC boosted its position in Copart by 3.2% during the second quarter. Tema Etfs LLC now owns 31,029 shares of the business services provider’s stock worth $1,523,000 after purchasing an additional 949 shares during the period. Institutional investors own 85.78% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Barclays reaffirmed an “underweight” rating and issued a $33.00 target price (up previously from $32.00) on shares of Copart in a research report on Friday, November 21st. HSBC set a $62.00 target price on shares of Copart and gave the company a “buy” rating in a research report on Thursday, September 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. Hsbc Global Res raised shares of Copart from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 4th. Finally, Stephens reduced their price target on Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a report on Friday, September 5th. One 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $47.60.

Copart Trading Down 0.2%

Shares of CPRT stock opened at $38.72 on Friday. The firm has a fifty day simple moving average of $42.37 and a two-hundred day simple moving average of $46.24. Copart, Inc. has a 12 month low of $38.61 and a 12 month high of $63.85. The firm has a market capitalization of $37.48 billion, a PE ratio of 23.61 and a beta of 1.12.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, November 20th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.18 billion. Copart had a net margin of 34.24% and a return on equity of 17.78%. The business’s revenue was up .7% on a year-over-year basis. During the same period last year, the company earned $0.37 earnings per share. On average, equities analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jeffrey Liaw sold 24,283 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 31,332 shares in the company, valued at $1,403,360.28. This trade represents a 43.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas N. Tryforos sold 100,000 shares of Copart stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total value of $3,907,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 353,123 shares of company stock valued at $15,873,689 over the last three months. Corporate insiders own 9.60% of the company’s stock.

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.