Blair William & Co. IL Sells 323,592 Shares of Copart, Inc. $CPRT

Blair William & Co. IL cut its holdings in Copart, Inc. (NASDAQ:CPRT) by 6.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,414,974 shares of the business services provider’s stock after selling 323,592 shares during the quarter. Blair William & Co. IL owned 0.46% of Copart worth $172,846,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CPRT. Rakuten Investment Management Inc. increased its stake in shares of Copart by 302.3% in the 4th quarter. Rakuten Investment Management Inc. now owns 171,183 shares of the business services provider’s stock valued at $6,760,000 after acquiring an additional 128,627 shares in the last quarter. Cynosure Group LLC lifted its position in shares of Copart by 18.0% during the 4th quarter. Cynosure Group LLC now owns 20,930 shares of the business services provider’s stock valued at $819,000 after acquiring an additional 3,196 shares during the period. Alberta Investment Management Corp bought a new position in Copart during the fourth quarter worth $3,296,000. USS Investment Management Ltd grew its holdings in Copart by 1.2% in the fourth quarter. USS Investment Management Ltd now owns 172,909 shares of the business services provider’s stock worth $6,770,000 after purchasing an additional 2,097 shares during the period. Finally, Panagora Asset Management Inc. grew its holdings in Copart by 229.3% in the fourth quarter. Panagora Asset Management Inc. now owns 15,442 shares of the business services provider’s stock worth $605,000 after purchasing an additional 10,752 shares during the period. 85.78% of the stock is currently owned by institutional investors.

Copart Price Performance

NASDAQ:CPRT opened at $30.74 on Wednesday. The firm has a 50-day moving average of $32.74 and a 200-day moving average of $36.06. The company has a market cap of $28.46 billion, a PE ratio of 19.09 and a beta of 1.00. Copart, Inc. has a one year low of $29.97 and a one year high of $50.11.

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

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 79,532 shares in the company, valued at $2,638,871.76. This trade represents a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on CPRT. Barclays reiterated an “underweight” rating and set a $32.00 price objective (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Jefferies Financial Group set a $45.00 target price on Copart in a research report on Friday, May 22nd. Weiss Ratings lowered Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Robert W. Baird set a $48.00 price objective on Copart and gave the company an “outperform” rating in a report on Friday, February 20th. Finally, Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Copart has an average rating of “Hold” and a consensus price target of $44.50.

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.