NEOS Investment Management LLC Increases Position in Copart, Inc. $CPRT

NEOS Investment Management LLC raised its stake in Copart, Inc. (NASDAQ:CPRT) by 54.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 448,197 shares of the business services provider’s stock after purchasing an additional 158,868 shares during the period. NEOS Investment Management LLC’s holdings in Copart were worth $20,155,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CPRT. Cloud Capital Management LLC acquired a new position in Copart during the 3rd quarter valued at about $25,000. Tripletail Wealth Management LLC purchased a new position in Copart during the 3rd quarter valued at about $27,000. Creekmur Asset Management LLC grew its holdings in shares of Copart by 1,063.0% during the 2nd quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 574 shares in the last quarter. LRI Investments LLC lifted its holdings in shares of Copart by 125.2% during the 3rd quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock valued at $29,000 after buying an additional 363 shares during the last quarter. Finally, Cornerstone Planning Group LLC raised its holdings in Copart by 54.0% during the third quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock valued at $31,000 after buying an additional 256 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Trading Up 0.1%

NASDAQ:CPRT opened at $37.52 on Wednesday. The stock has a market capitalization of $36.32 billion, a price-to-earnings ratio of 22.88 and a beta of 1.08. The firm has a fifty day simple moving average of $39.54 and a two-hundred day simple moving average of $42.72. Copart, Inc. has a 12 month low of $36.52 and a 12 month high of $63.85.

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

Analyst Upgrades and Downgrades

Several brokerages have commented on CPRT. JPMorgan Chase & Co. dropped their price target on Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday, November 24th. CJS Securities upgraded shares of Copart to a “strong-buy” rating in a report on Thursday, December 11th. Robert W. Baird lowered their price target on Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a report on Friday, November 21st. Finally, Barclays reaffirmed an “underweight” rating and set a $33.00 price target (up previously from $32.00) on shares of Copart in a research report on Friday, November 21st. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.60.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of the stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $40.17, for a total value of $1,009,753.29. Following the sale, the chief executive officer directly owned 55,970 shares in the company, valued at $2,248,314.90. This represents a 30.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 transaction of $3,907,000.00. Additional details regarding this sale are available in the official SEC disclosure. 9.60% of the stock is owned by insiders.

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.