TD Asset Management Inc Sells 192,017 Shares of Copart, Inc. $CPRT

TD Asset Management Inc trimmed its position in Copart, Inc. (NASDAQ:CPRT) by 5.1% in the second quarter, Holdings Channel reports. The fund owned 3,573,226 shares of the business services provider’s stock after selling 192,017 shares during the quarter. TD Asset Management Inc’s holdings in Copart were worth $175,338,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Cloud Capital Management LLC bought a new position in Copart during the 1st quarter worth $26,000. Atticus Wealth Management LLC bought a new position in Copart during the 2nd quarter worth $31,000. Ameritas Advisory Services LLC bought a new position in Copart during the 2nd quarter worth $31,000. Accent Capital Management LLC bought a new position in Copart during the 1st quarter worth $36,000. Finally, GFG Capital LLC bought a new position in Copart during the 2nd quarter worth $37,000. 85.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Thomas N. Tryforos sold 228,840 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $47.54, for a total value of $10,879,053.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.68% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CPRT. Stephens lowered their target price on Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a research report on Friday, September 5th. Robert W. Baird lowered their target price on Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, July 17th. HSBC set a $62.00 price objective on Copart and gave the stock a “buy” rating in a research report on Thursday, September 4th. Hsbc Global Res raised Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Copart in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $54.50.

Copart Trading Up 1.6%

CPRT stock opened at $44.77 on Wednesday. The stock has a 50-day moving average price of $46.73 and a 200-day moving average price of $51.11. Copart, Inc. has a 1-year low of $43.71 and a 1-year high of $64.38. The firm has a market cap of $43.33 billion, a PE ratio of 27.98 and a beta of 1.03.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, September 4th. The business services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. Copart had a return on equity of 18.17% and a net margin of 33.41%.The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same period in the previous year, the company posted $0.33 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year. On average, analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Copart Profile

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.