37,132 Shares in Copart, Inc. $CPRT Bought by Saturna Capital Corp

Saturna Capital Corp acquired a new stake in Copart, Inc. (NASDAQ:CPRT) in the second quarter, Holdings Channel reports. The institutional investor acquired 37,132 shares of the business services provider’s stock, valued at approximately $1,822,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CPRT. GC Wealth Management RIA LLC bought a new position in shares of Copart during the second quarter worth $219,000. Nordea Investment Management AB raised its stake in Copart by 3.5% during the 2nd quarter. Nordea Investment Management AB now owns 753,973 shares of the business services provider’s stock worth $36,153,000 after buying an additional 25,564 shares during the period. JPMorgan Chase & Co. lifted its holdings in Copart by 15.9% during the first quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider’s stock worth $868,417,000 after acquiring an additional 2,106,656 shares in the last quarter. Peak Financial Advisors LLC acquired a new position in Copart in the second quarter valued at about $2,467,000. Finally, Dark Forest Capital Management LP increased its holdings in shares of Copart by 395.6% in the first quarter. Dark Forest Capital Management LP now owns 78,751 shares of the business services provider’s stock worth $4,457,000 after acquiring an additional 62,861 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Insider Activity

In related news, Director Thomas N. Tryforos sold 228,840 shares of the stock in a transaction that occurred 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 the SEC website. Also, CEO Jeffrey Liaw sold 24,283 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total value of $1,087,635.57. Following the completion of the transaction, the chief executive officer owned 31,332 shares of the company’s stock, valued at approximately $1,403,360.28. This represents a 43.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 9.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Hsbc Global Res upgraded Copart from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. Stephens lowered their price objective on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a research report on Friday, September 5th. HSBC set a $62.00 price objective on shares of Copart and gave the stock a “buy” rating in a report on Thursday, September 4th. Finally, Barclays set a $32.00 target price on shares of Copart in a research note on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $50.00.

Copart Stock Down 0.0%

NASDAQ:CPRT opened at $41.32 on Wednesday. The company has a market cap of $39.99 billion, a P/E ratio of 25.83 and a beta of 1.06. Copart, Inc. has a twelve month low of $39.58 and a twelve month high of $64.38. The business has a 50 day moving average price of $44.20 and a two-hundred day moving average price of $48.20.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, September 4th. The business services provider reported $0.41 EPS 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 business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the prior year, the company posted $0.33 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. As a group, analysts anticipate that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Copart Company Profile

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.