Copart, Inc. $CPRT Shares Acquired by Sustainable Insight Capital Management LLC

Sustainable Insight Capital Management LLC increased its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 24.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 132,937 shares of the business services provider’s stock after acquiring an additional 26,200 shares during the quarter. Copart comprises 1.5% of Sustainable Insight Capital Management LLC’s investment portfolio, making the stock its 20th biggest position. Sustainable Insight Capital Management LLC’s holdings in Copart were worth $4,414,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of CPRT. State Street Corp lifted its stake in Copart by 1.3% in the 4th quarter. State Street Corp now owns 37,555,437 shares of the business services provider’s stock worth $1,470,295,000 after purchasing an additional 492,506 shares in the last quarter. Capital World Investors grew its position in shares of Copart by 25.1% in the fourth quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock valued at $1,085,588,000 after purchasing an additional 5,555,101 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Copart by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 23,255,161 shares of the business services provider’s stock valued at $906,836,000 after purchasing an additional 131,703 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Copart by 21.7% in the fourth quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock valued at $860,618,000 after purchasing an additional 3,918,610 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Copart in the fourth quarter valued at approximately $569,569,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analysts Set New Price Targets

CPRT has been the topic of a number of analyst reports. Weiss Ratings downgraded Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Barclays set a $26.00 target price on Copart and gave the company an “underweight” rating in a report on Tuesday. Jefferies Financial Group set a $45.00 target price on Copart in a research note on Friday, May 22nd. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Finally, Freedom Capital raised shares of Copart to a “strong-buy” rating in a research report on Friday, June 26th. Three investment 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.50.

Copart Stock Up 2.7%

NASDAQ:CPRT opened at $27.94 on Friday. Copart, Inc. has a 52 week low of $26.81 and a 52 week high of $50.11. The stock’s fifty day moving average is $30.17 and its two-hundred day moving average is $34.07. The company has a market capitalization of $25.87 billion, a P/E ratio of 17.35 and a beta of 1.02.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates 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 company’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 EPS. Sell-side analysts anticipate that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

Copart 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.