JLB & Associates Inc. Makes New Investment in Copart, Inc. $CPRT

JLB & Associates Inc. purchased a new position in Copart, Inc. (NASDAQ:CPRT) in the second quarter, HoldingsChannel.com reports. The fund purchased 340,219 shares of the business services provider’s stock, valued at approximately $9,591,000. Copart comprises about 1.3% of JLB & Associates Inc.’s investment portfolio, making the stock its 28th biggest position.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Brighton Jones LLC increased its position in Copart by 92.1% during the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock worth $816,000 after purchasing an additional 6,817 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in Copart by 365.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock valued at $63,000 after purchasing an additional 878 shares in the last quarter. Jump Financial LLC purchased a new position in Copart in the 2nd quarter valued at about $2,677,000. Sei Investments Co. boosted its stake in shares of Copart by 110.0% during the 2nd quarter. Sei Investments Co. now owns 900,330 shares of the business services provider’s stock worth $44,179,000 after purchasing an additional 471,571 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake in shares of Copart by 3.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 413,083 shares of the business services provider’s stock worth $20,270,000 after purchasing an additional 13,860 shares during the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CPRT shares. Jefferies Financial Group set a $45.00 price objective on shares of Copart in a research report on Friday, May 22nd. Freedom Capital upgraded shares of Copart to a “strong-buy” rating in a research report on Friday, June 26th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Copart in a research note on Wednesday, July 29th. Barclays set a $26.00 price target on Copart and gave the company an “underweight” rating in a report on Tuesday, July 21st. Finally, Zacks Research lowered Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Three equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $43.50.

Copart Price Performance

CPRT opened at $31.51 on Wednesday. Copart, Inc. has a 12 month low of $26.81 and a 12 month high of $50.11. The business has a 50-day moving average of $29.32 and a two-hundred day moving average of $32.79. The stock has a market capitalization of $29.17 billion, a price-to-earnings ratio of 19.57 and a beta of 1.01.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 earnings per share 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 business 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 firm posted $0.42 EPS. The company’s revenue was up 2.1% on a year-over-year basis. Equities research analysts anticipate that Copart, Inc. will post 1.58 earnings per share for the current year.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the transaction, the chief executive officer owned 99,641 shares of the company’s stock, valued at $3,038,054.09. This trade represents a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 9.60% of the company’s stock.

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.