NorthRock Partners LLC Reduces Stock Position in Copart, Inc. $CPRT

NorthRock Partners LLC lessened its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 11.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,058 shares of the business services provider’s stock after selling 998 shares during the period. NorthRock Partners LLC’s holdings in Copart were worth $395,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CPRT. Nuveen LLC bought a new position in shares of Copart during the first quarter valued at approximately $267,723,000. Fiera Capital Corp increased its position in Copart by 195.6% during the 1st quarter. Fiera Capital Corp now owns 3,992,610 shares of the business services provider’s stock valued at $225,942,000 after purchasing an additional 2,642,100 shares during the period. PineStone Asset Management Inc. increased its position in Copart by 56.4% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,407,471 shares of the business services provider’s stock valued at $314,415,000 after purchasing an additional 2,310,067 shares during the period. Amundi raised its holdings in Copart by 32.5% in the 1st quarter. Amundi now owns 9,380,026 shares of the business services provider’s stock worth $531,256,000 after purchasing an additional 2,299,192 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Copart by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider’s stock worth $5,900,295,000 after purchasing an additional 2,134,890 shares during the period. Institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling

In other Copart news, Director Thomas N. Tryforos sold 228,840 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $47.54, for a total transaction of $10,879,053.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 9.68% of the company’s stock.

Copart Stock Down 0.5%

Shares of CPRT opened at $44.56 on Thursday. The stock has a market cap of $43.12 billion, a P/E ratio of 27.85 and a beta of 1.03. The business’s 50 day moving average price is $46.68 and its 200-day moving average price is $51.06. Copart, Inc. has a 52 week low of $43.71 and a 52 week high of $64.38.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 earnings per share (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 analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the business earned $0.33 earnings per share. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Analysts Set New Price Targets

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

About Copart

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.