Copart, Inc. $CPRT Stock Holdings Trimmed by CI Investments Inc.

CI Investments Inc. lessened its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 95.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 2,920 shares of the business services provider’s stock after selling 59,694 shares during the quarter. CI Investments Inc.’s holdings in Copart were worth $131,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Allworth Financial LP increased its holdings in shares of Copart by 0.8% during the second quarter. Allworth Financial LP now owns 28,978 shares of the business services provider’s stock valued at $1,422,000 after purchasing an additional 228 shares during the period. PDS Planning Inc lifted its holdings in Copart by 4.9% in the third quarter. PDS Planning Inc now owns 5,196 shares of the business services provider’s stock worth $234,000 after purchasing an additional 242 shares during the period. Hollencrest Capital Management grew its position in Copart by 13.2% in the 3rd quarter. Hollencrest Capital Management now owns 2,088 shares of the business services provider’s stock valued at $94,000 after buying an additional 244 shares in the last quarter. Unique Wealth LLC grew its position in Copart by 2.3% in the 3rd quarter. Unique Wealth LLC now owns 10,785 shares of the business services provider’s stock valued at $485,000 after buying an additional 245 shares in the last quarter. Finally, Tobam increased its stake in Copart by 22.9% during the 2nd quarter. Tobam now owns 1,340 shares of the business services provider’s stock valued at $66,000 after buying an additional 250 shares during the period. Institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CPRT. Barclays restated an “underweight” rating and set a $32.00 price target (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. JPMorgan Chase & Co. lowered their price objective on shares of Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. CJS Securities raised Copart to a “strong-buy” rating in a report on Thursday, December 11th. Robert W. Baird set a $48.00 target price on Copart and gave the stock an “outperform” rating in a research report on Friday, February 20th. Finally, Zacks Research lowered Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 24th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $44.40.

Copart Trading Down 0.8%

Shares of NASDAQ CPRT opened at $37.72 on Monday. Copart, Inc. has a twelve month low of $33.81 and a twelve month high of $63.85. The company has a market capitalization of $36.34 billion, a price-to-earnings ratio of 23.58 and a beta of 1.09. The firm has a 50-day moving average of $39.07 and a two-hundred day moving average of $41.83.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, February 19th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.03). Copart had a return on equity of 16.68% and a net margin of 33.76%.The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the firm earned $0.40 EPS. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Jeffrey Liaw sold 25,137 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the completion of the sale, the chief executive officer directly owned 55,970 shares in the company, valued at approximately $2,248,314.90. This trade represents a 30.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 9.60% of the company’s stock.

About Copart

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.