Copart, Inc. $CPRT Shares Bought by Capital Group Investment Management PTE. LTD.

Capital Group Investment Management PTE. LTD. lifted its position in shares of Copart, Inc. (NASDAQ:CPRT) by 49.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 87,749 shares of the business services provider’s stock after acquiring an additional 28,965 shares during the quarter. Capital Group Investment Management PTE. LTD.’s holdings in Copart were worth $3,435,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nordea Investment Management AB raised its position in shares of Copart by 4.1% during the 4th quarter. Nordea Investment Management AB now owns 798,087 shares of the business services provider’s stock valued at $31,353,000 after acquiring an additional 31,658 shares in the last quarter. Comgest Global Investors S.A.S. raised its position in shares of Copart by 7.2% during the 3rd quarter. Comgest Global Investors S.A.S. now owns 3,181,919 shares of the business services provider’s stock valued at $143,091,000 after acquiring an additional 212,520 shares in the last quarter. Davidson Kahn Capital Management LLC raised its position in shares of Copart by 56.3% during the 4th quarter. Davidson Kahn Capital Management LLC now owns 100,151 shares of the business services provider’s stock valued at $3,921,000 after acquiring an additional 36,091 shares in the last quarter. Gotham Asset Management LLC raised its position in shares of Copart by 193.6% during the 3rd quarter. Gotham Asset Management LLC now owns 944,876 shares of the business services provider’s stock valued at $42,491,000 after acquiring an additional 623,012 shares in the last quarter. Finally, Integrated Wealth Concepts LLC raised its position in shares of Copart by 21.0% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 249,396 shares of the business services provider’s stock valued at $11,215,000 after acquiring an additional 43,292 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Jeffrey Liaw sold 26,213 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total value of $869,747.34. Following the completion of the transaction, the chief executive officer owned 79,532 shares of the company’s stock, valued at approximately $2,638,871.76. This represents a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 9.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CPRT shares. Barclays reissued 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. 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. Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Jefferies Financial Group set a $45.00 target price on Copart in a research report on Friday, May 22nd. Finally, JPMorgan Chase & Co. dropped 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 research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $44.50.

Copart Price Performance

Shares of NASDAQ CPRT opened at $30.96 on Friday. Copart, Inc. has a 1-year low of $29.97 and a 1-year high of $50.92. The business’s fifty day moving average price is $33.03 and its two-hundred day moving average price is $36.55. The firm has a market capitalization of $28.66 billion, a PE ratio of 19.23 and a beta of 1.00.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.02. Copart had a return on equity of 16.63% and a net margin of 33.48%.The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the business posted $0.42 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities research analysts expect that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

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.