Cerity Partners LLC Buys 42,710 Shares of Copart, Inc. $CPRT

Cerity Partners LLC grew its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 13.3% in the third quarter, Holdings Channel reports. The institutional investor owned 364,076 shares of the business services provider’s stock after purchasing an additional 42,710 shares during the period. Cerity Partners LLC’s holdings in Copart were worth $16,373,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in CPRT. Tripletail Wealth Management LLC acquired a new position in Copart in the 3rd quarter valued at approximately $27,000. Atticus Wealth Management LLC acquired a new stake in shares of Copart during the 2nd quarter worth approximately $31,000. Ameritas Advisory Services LLC bought a new stake in shares of Copart during the second quarter valued at approximately $31,000. Creekmur Asset Management LLC raised its stake in shares of Copart by 1,063.0% in the second quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 574 shares in the last quarter. Finally, Bank of Jackson Hole Trust raised its stake in shares of Copart by 83.8% in the second quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 335 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Stock Up 2.0%

Shares of CPRT stock opened at $39.83 on Friday. The company has a market capitalization of $38.56 billion, a P/E ratio of 24.29 and a beta of 1.10. Copart, Inc. has a 12-month low of $37.41 and a 12-month high of $63.85. The firm has a 50-day moving average price of $39.68 and a 200 day moving average price of $44.16.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CPRT shares. JPMorgan Chase & Co. decreased their price target on shares of Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday, November 24th. Barclays reiterated an “underweight” rating and set a $33.00 target price (up from $32.00) on shares of Copart in a research report on Friday, November 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Copart in a research report on Wednesday, October 8th. CJS Securities raised Copart to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Robert W. Baird lowered their price objective on Copart from $55.00 to $52.00 and set an “outperform” rating on the stock in a research note on Friday, November 21st. Two equities research 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. According to data from MarketBeat, Copart presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.60.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 24,283 shares of the stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the sale, the chief executive officer owned 31,332 shares of the company’s stock, valued at $1,403,360.28. This represents a 43.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas N. Tryforos sold 100,000 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total transaction of $3,907,000.00. The disclosure for this sale is available in the SEC filing. Company insiders own 9.60% of the company’s stock.

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.