Copart, Inc. $CPRT Stake Lowered by Cynosure Group LLC

Cynosure Group LLC trimmed its position in shares of Copart, Inc. (NASDAQ:CPRT) by 50.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,734 shares of the business services provider’s stock after selling 18,198 shares during the period. Cynosure Group LLC’s holdings in Copart were worth $797,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Copart during the 2nd quarter worth about $549,448,000. Fiera Capital Corp grew 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 buying an additional 3,007,820 shares in the last quarter. First Trust Advisors LP increased its holdings in Copart by 75.2% in the second quarter. First Trust Advisors LP now owns 6,579,404 shares of the business services provider’s stock worth $322,851,000 after buying an additional 2,824,991 shares during the last quarter. PineStone Asset Management Inc. raised its position in Copart by 56.4% during the second 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. Finally, Vanguard Group Inc. lifted its stake in Copart by 2.1% in the second quarter. Vanguard Group Inc. now owns 106,408,868 shares of the business services provider’s stock valued at $5,221,483,000 after acquiring an additional 2,144,946 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Price Performance

CPRT stock opened at $37.77 on Monday. Copart, Inc. has a 52-week low of $37.60 and a 52-week high of $63.85. The company has a 50-day moving average of $40.11 and a two-hundred day moving average of $44.43. The stock has a market capitalization of $36.56 billion, a price-to-earnings ratio of 23.03 and a beta of 1.10.

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

Insider Buying and Selling

In other news, Director Thomas N. Tryforos sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total transaction of $3,907,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey Liaw sold 24,283 shares of the 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 directly owned 31,332 shares of the company’s stock, valued at $1,403,360.28. This represents a 43.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 9.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. Robert W. Baird decreased their price objective on shares of Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a report on Friday, November 21st. Barclays restated an “underweight” rating and set a $33.00 target price (up from $32.00) on shares of Copart in a report on Friday, November 21st. CJS Securities raised Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, JPMorgan Chase & Co. lowered their price objective on Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Monday, November 24th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Copart currently has a consensus rating of “Moderate Buy” and an average price target of $47.60.

Copart Company 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.