105,619 Shares in Copart, Inc. $CPRT Acquired by Clio Asset Management LLC

Clio Asset Management LLC purchased a new position in Copart, Inc. (NASDAQ:CPRT) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 105,619 shares of the business services provider’s stock, valued at approximately $3,507,000. Copart comprises 2.9% of Clio Asset Management LLC’s holdings, making the stock its 15th biggest holding.

Several other institutional investors also recently modified their holdings of the stock. Brighton Jones LLC raised its position in shares of Copart by 92.1% during the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock worth $816,000 after purchasing an additional 6,817 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Copart by 365.8% during the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock valued at $63,000 after purchasing an additional 878 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Copart in the 2nd quarter valued at $2,677,000. Sei Investments Co. boosted its position in shares of Copart by 110.0% in the 2nd quarter. Sei Investments Co. now owns 900,330 shares of the business services provider’s stock valued at $44,179,000 after purchasing an additional 471,571 shares during the period. Finally, Treasurer of the State of North Carolina increased its stake in Copart by 3.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 413,083 shares of the business services provider’s stock worth $20,270,000 after purchasing an additional 13,860 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Copart Price Performance

CPRT opened at $30.05 on Friday. Copart, Inc. has a fifty-two week low of $29.41 and a fifty-two week high of $50.11. The business has a 50-day moving average of $32.30 and a 200-day moving average of $35.62. The company has a market capitalization of $27.82 billion, a PE ratio of 18.66 and a beta of 1.00.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $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

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total value of $869,747.34. Following the completion of the sale, the chief executive officer directly owned 79,532 shares of the company’s stock, valued at $2,638,871.76. The trade was a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 9.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on CPRT shares. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Weiss Ratings downgraded shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Finally, Jefferies Financial Group set a $45.00 price target on shares of Copart in a report on Friday, May 22nd. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $44.50.

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.