Copart, Inc. $CPRT Shares Sold by Aberdeen Group plc

Aberdeen Group plc decreased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 5.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 550,563 shares of the business services provider’s stock after selling 33,992 shares during the quarter. Aberdeen Group plc’s holdings in Copart were worth $21,555,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Copart by 13.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 371,603 shares of the business services provider’s stock worth $16,711,000 after purchasing an additional 45,346 shares during the period. California Public Employees Retirement System grew its position in shares of Copart by 89.0% in the second quarter. California Public Employees Retirement System now owns 2,548,275 shares of the business services provider’s stock valued at $125,044,000 after purchasing an additional 1,200,035 shares during the period. Principal Financial Group Inc. increased its stake in Copart by 3.2% in the third quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider’s stock valued at $1,806,674,000 after purchasing an additional 1,236,101 shares during the last quarter. Yacktman Asset Management LP acquired a new position in Copart in the third quarter valued at $3,382,000. Finally, Comgest Global Investors S.A.S. lifted its position in Copart by 7.2% during the third quarter. Comgest Global Investors S.A.S. now owns 3,181,919 shares of the business services provider’s stock worth $143,091,000 after buying an additional 212,520 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 25,137 shares of the stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $40.17, for a total value of $1,009,753.29. Following the completion of the transaction, the chief executive officer owned 55,970 shares of the company’s stock, valued at approximately $2,248,314.90. This represents a 30.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 9.60% of the company’s stock.

Wall Street Analysts Forecast Growth

CPRT has been the topic of a number of research analyst reports. Zacks Research lowered Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 24th. Barclays reaffirmed an “underweight” rating and set a $32.00 price target (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Copart in a research note on Monday, March 23rd. Robert W. Baird set a $48.00 price objective on Copart and gave the stock an “outperform” rating in a report on Friday, February 20th. Finally, JPMorgan Chase & Co. cut their target price on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $44.40.

Copart Stock Performance

CPRT opened at $33.40 on Monday. The company has a fifty day simple moving average of $36.60 and a 200 day simple moving average of $39.77. The firm has a market cap of $32.17 billion, a price-to-earnings ratio of 20.88 and a beta of 1.14. Copart, Inc. has a twelve month low of $32.20 and a twelve month high of $63.85.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, February 19th. The business services provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.15 billion. Copart had a return on equity of 16.68% and a net margin of 33.76%.The business’s quarterly 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. On average, analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

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.