Copart, Inc. $CPRT Stock Holdings Cut by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC cut its position in shares of Copart, Inc. (NASDAQ:CPRT) by 3.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 762,101 shares of the business services provider’s stock after selling 23,462 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Copart were worth $34,272,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in Copart during the second quarter valued at about $549,448,000. AQR Capital Management LLC raised its position in Copart by 298.2% in the third quarter. AQR Capital Management LLC now owns 4,887,359 shares of the business services provider’s stock worth $217,243,000 after acquiring an additional 3,660,031 shares in the last quarter. Van ECK Associates Corp raised its position in Copart by 2,266.7% in the third quarter. Van ECK Associates Corp now owns 3,689,003 shares of the business services provider’s stock worth $165,895,000 after acquiring an additional 3,533,133 shares in the last quarter. Akre Capital Management LLC lifted its holdings in Copart by 253.1% in the 3rd quarter. Akre Capital Management LLC now owns 4,236,760 shares of the business services provider’s stock valued at $190,527,000 after acquiring an additional 3,036,760 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Copart by 75.2% in the 2nd quarter. First Trust Advisors LP now owns 6,579,404 shares of the business services provider’s stock worth $322,851,000 after purchasing an additional 2,824,991 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of the business’s stock in a transaction 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 sale, the chief executive officer directly owned 55,970 shares of the company’s stock, valued at $2,248,314.90. The trade was a 30.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 9.60% of the company’s stock.

Copart Price Performance

Shares of CPRT opened at $32.52 on Friday. The company has a 50-day moving average of $38.29 and a two-hundred day moving average of $41.05. The stock has a market cap of $31.33 billion, a price-to-earnings ratio of 20.33 and a beta of 1.09. Copart, Inc. has a one year low of $32.20 and a one year high of $63.85.

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

Analyst Ratings Changes

Several analysts recently commented on the stock. Robert W. Baird set a $48.00 target price on shares of Copart and gave the company an “outperform” rating in a research note on Friday, February 20th. Barclays restated an “underweight” rating and issued a $32.00 price target (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Zacks Research cut Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 24th. CJS Securities upgraded Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, JPMorgan Chase & Co. reduced their price objective on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $44.40.

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.