Copart, Inc. $CPRT Stake Trimmed by Quantum Capital Management LLC NJ

Quantum Capital Management LLC NJ lowered its position in Copart, Inc. (NASDAQ:CPRT) by 12.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,418,690 shares of the business services provider’s stock after selling 207,715 shares during the period. Copart accounts for approximately 6.4% of Quantum Capital Management LLC NJ’s portfolio, making the stock its 6th biggest holding. Quantum Capital Management LLC NJ owned approximately 0.15% of Copart worth $55,542,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its stake in Copart by 1.3% during the third quarter. Quadrant Capital Group LLC now owns 20,693 shares of the business services provider’s stock worth $931,000 after acquiring an additional 264 shares during the last quarter. Sierra Legacy Group increased its stake in Copart by 1.9% during the fourth quarter. Sierra Legacy Group now owns 13,880 shares of the business services provider’s stock worth $543,000 after acquiring an additional 265 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in Copart by 23.8% during the second quarter. Geneos Wealth Management Inc. now owns 1,384 shares of the business services provider’s stock worth $68,000 after acquiring an additional 266 shares during the last quarter. Brown Miller Wealth Management LLC increased its stake in Copart by 3.8% during the fourth quarter. Brown Miller Wealth Management LLC now owns 7,310 shares of the business services provider’s stock worth $286,000 after acquiring an additional 268 shares during the last quarter. Finally, Valeo Financial Advisors LLC increased its stake in Copart by 4.6% during the fourth quarter. Valeo Financial Advisors LLC now owns 6,395 shares of the business services provider’s stock worth $250,000 after acquiring an additional 282 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer 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 sale was disclosed in a filing with the SEC, which is available through this link. 9.60% of the stock is owned by insiders.

Analysts Set New Price Targets

CPRT has been the subject of several research analyst reports. Robert W. Baird set a $48.00 price target on Copart and gave the stock an “outperform” rating in a research note on Friday, February 20th. JPMorgan Chase & Co. decreased their target price on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, February 23rd. Weiss Ratings downgraded Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Barclays reaffirmed an “underweight” rating and issued a $32.00 target price (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Finally, Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Copart has a consensus rating of “Hold” and an average price target of $44.50.

Copart Stock Performance

Shares of CPRT opened at $30.75 on Friday. The company has a market capitalization of $28.47 billion, a P/E ratio of 19.10 and a beta of 1.00. Copart, Inc. has a one year low of $29.97 and a one year high of $50.11. The stock has a 50-day moving average price of $32.85 and a 200 day moving average price of $36.20.

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

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.