Jensen Investment Management Inc. Increases Stock Position in Copart, Inc. $CPRT

Jensen Investment Management Inc. increased its holdings in Copart, Inc. (NASDAQ:CPRT) by 39.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,315,861 shares of the business services provider’s stock after acquiring an additional 1,503,771 shares during the quarter. Copart makes up about 3.1% of Jensen Investment Management Inc.’s holdings, making the stock its 16th biggest position. Jensen Investment Management Inc. owned 0.55% of Copart worth $260,849,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CPRT. Atticus Wealth Management LLC acquired a new position in Copart in the second quarter valued at $31,000. Ameritas Advisory Services LLC purchased a new position in shares of Copart during the second quarter worth about $31,000. Creekmur Asset Management LLC grew its holdings in shares of Copart by 1,063.0% during the second quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock worth $31,000 after buying an additional 574 shares during the last quarter. Accent Capital Management LLC acquired a new position in Copart in the 1st quarter valued at about $36,000. Finally, Bank of Jackson Hole Trust raised its stake in Copart by 83.8% during the 2nd quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 335 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analysts Set New Price Targets

CPRT has been the topic of several analyst reports. Barclays set a $32.00 target price on Copart in a research note on Tuesday. Hsbc Global Res raised Copart from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. Stephens dropped their price objective on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Friday, September 5th. HSBC set a $62.00 price objective on shares of Copart and gave the stock a “buy” rating in a research report on Thursday, September 4th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Copart currently has an average rating of “Hold” and a consensus price target of $50.00.

Insider Activity at Copart

In related news, Director Thomas N. Tryforos sold 228,840 shares of Copart stock in a transaction on Monday, September 15th. The stock was sold at an average price of $47.54, for a total transaction of $10,879,053.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey Liaw sold 24,283 shares of the business’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total value of $1,087,635.57. Following the sale, the chief executive officer owned 31,332 shares in the company, valued at approximately $1,403,360.28. The trade was a 43.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 9.60% of the company’s stock.

Copart Stock Down 1.3%

Shares of CPRT opened at $41.08 on Friday. Copart, Inc. has a 52-week low of $39.58 and a 52-week high of $64.38. The company has a 50-day simple moving average of $44.48 and a 200-day simple moving average of $48.57. The company has a market capitalization of $39.76 billion, a PE ratio of 25.68 and a beta of 1.06.

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

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.