Copart, Inc. $CPRT Shares Purchased by Ninety One UK Ltd

Ninety One UK Ltd raised its position in shares of Copart, Inc. (NASDAQ:CPRT) by 85.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,344,300 shares of the business services provider’s stock after purchasing an additional 618,334 shares during the quarter. Ninety One UK Ltd’s holdings in Copart were worth $36,673,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Western Pacific Wealth Management LP grew its position in shares of Copart by 13.8% in the 1st quarter. Western Pacific Wealth Management LP now owns 2,646 shares of the business services provider’s stock worth $88,000 after acquiring an additional 320 shares in the last quarter. Alpha Family Trust increased its holdings in shares of Copart by 3.4% in the 1st quarter. Alpha Family Trust now owns 11,010 shares of the business services provider’s stock valued at $366,000 after acquiring an additional 360 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Copart by 1.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 28,547 shares of the business services provider’s stock valued at $805,000 after acquiring an additional 369 shares during the last quarter. Versant Capital Management Inc raised its position in shares of Copart by 110.9% during the 2nd quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 498 shares in the last quarter. Finally, Studio Investment Management LLC raised its position in shares of Copart by 5.5% during the 2nd quarter. Studio Investment Management LLC now owns 10,728 shares of the business services provider’s stock valued at $302,000 after acquiring an additional 556 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 27,745 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total transaction of $845,945.05. Following the sale, the chief executive officer directly owned 99,641 shares in the company, valued at approximately $3,038,054.09. This represents a 21.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.60% of the company’s stock.

Wall Street Analysts Forecast Growth

CPRT has been the topic of several research analyst reports. JPMorgan Chase & Co. upgraded Copart from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $32.00 to $40.00 in a research note on Thursday, September 3rd. Barrington Research upgraded shares of Copart from a “market perform” rating to an “outperform” rating and set a $40.00 target price for the company in a research note on Friday, September 11th. BNP Paribas Exane reiterated an “outperform” rating and set a $43.00 target price (up from $40.00) on shares of Copart in a research note on Monday, September 28th. HSBC cut shares of Copart from a “buy” rating to a “hold” rating and set a $36.00 target price on the stock. in a report on Wednesday, September 16th. Finally, Zacks Research raised shares of Copart from a “strong sell” rating to a “hold” rating in a report on Monday, September 7th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $37.80.

Copart Stock Up 5.6%

Shares of NASDAQ CPRT opened at $27.75 on Friday. The firm’s 50-day moving average price is $30.13 and its two-hundred day moving average price is $30.84. Copart, Inc. has a 52-week low of $25.72 and a 52-week high of $45.89. The stock has a market capitalization of $25.71 billion, a P/E ratio of 17.90, a P/E/G ratio of 1.29 and a beta of 1.06.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, September 10th. The business services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). Copart had a net margin of 31.81% and a return on equity of 15.93%. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The business’s revenue was up 2.4% on a year-over-year basis. As a group, equities research analysts expect that Copart, Inc. will post 1.63 earnings per share for the current year.

About Copart

Copart, Inc is a global provider of online vehicle auction and remarketing services. The company primarily sells vehicles that have been damaged, totaled, recovered from theft, or otherwise deemed uneconomical to repair. Its customers include insurance companies, automobile dealers, dismantlers, rebuilders, exporters, rental and finance companies, and members of the general public.

Copart conducts auctions through its online VB3 platform, which connects buyers with vehicles listed at the company’s facilities.