Copart, Inc. $CPRT Shares Sold by Vancity Investment Management Ltd

Vancity Investment Management Ltd decreased its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 617,849 shares of the business services provider’s stock after selling 35,443 shares during the quarter. Copart comprises 3.3% of Vancity Investment Management Ltd’s holdings, making the stock its 10th largest position. Vancity Investment Management Ltd owned 0.06% of Copart worth $24,188,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lodestone Wealth Management LLC acquired a new position in shares of Copart during the 4th quarter valued at about $25,000. FNY Investment Advisers LLC acquired a new stake in Copart during the third quarter worth about $36,000. Aventura Private Wealth LLC purchased a new position in Copart during the fourth quarter worth about $33,000. Board of the Pension Protection Fund purchased a new position in Copart during the fourth quarter worth about $35,000. Finally, Triumph Capital Management raised its stake in Copart by 424.2% during the fourth quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock worth $40,000 after purchasing an additional 823 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the company’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the transaction, the chief executive officer directly owned 79,532 shares in the company, valued at $2,638,871.76. This 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 at the SEC website. 9.60% of the stock is owned by company insiders.

Copart Price Performance

Shares of CPRT opened at $30.23 on Friday. The firm has a 50-day simple moving average of $32.61 and a two-hundred day simple moving average of $35.94. The stock has a market cap of $27.99 billion, a PE ratio of 18.78 and a beta of 1.00. Copart, Inc. has a 1-year low of $29.46 and a 1-year high of $50.11.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.41 by $0.02. Copart had a net margin of 33.48% and a return on equity of 16.63%. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the business posted $0.42 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, sell-side analysts expect that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CPRT shares. Weiss Ratings cut shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Robert W. Baird set a $48.00 price target on shares of Copart and gave the company an “outperform” rating in a research report on Friday, February 20th. Barclays reiterated an “underweight” rating and issued 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 price objective on Copart in a research report on Friday, May 22nd. Finally, Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a research note 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.