Copart, Inc. $CPRT Shares Bought by Harvey Investment Co. LLC

by · The Markets Daily

Harvey Investment Co. LLC boosted its position in shares of Copart, Inc. (NASDAQ:CPRT – Free Report) by 250.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,575 shares of the business services provider’s stock after acquiring an additional 19,000 shares during the quarter. Harvey Investment Co. LLC’s holdings in Copart were worth $1,195,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. GC Wealth Management RIA LLC acquired a new stake in shares of Copart during the 2nd quarter valued at about $219,000. Shell Asset Management Co. lifted its stake in Copart by 6.7% in the second quarter. Shell Asset Management Co. now owns 167,910 shares of the business services provider’s stock valued at $8,239,000 after acquiring an additional 10,559 shares during the last quarter. Nordea Investment Management AB grew its position in Copart by 3.5% in the second quarter. Nordea Investment Management AB now owns 753,973 shares of the business services provider’s stock worth $36,153,000 after acquiring an additional 25,564 shares in the last quarter. Signal Advisors Wealth LLC increased its stake in shares of Copart by 71.8% during the 2nd quarter. Signal Advisors Wealth LLC now owns 127,035 shares of the business services provider’s stock worth $6,234,000 after purchasing an additional 53,099 shares during the last quarter. Finally, Peak Financial Advisors LLC bought a new position in shares of Copart during the 2nd quarter valued at $2,467,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CPRT. Weiss Ratings reissued a “hold (c)” rating on shares of Copart in a research report on Wednesday, October 8th. Barclays reissued an “underweight” rating and set a $33.00 price objective (up previously from $32.00) on shares of Copart in a report on Friday, November 21st. Robert W. Baird lowered their price target on Copart from $55.00 to $52.00 and set an “outperform” rating on the stock in a report on Friday, November 21st. JPMorgan Chase & Co. reduced their price objective on shares of Copart from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, November 24th. Finally, CJS Securities upgraded shares of Copart to a “strong-buy” rating in a research note on Thursday, December 11th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.60.

Get Our Latest Analysis on CPRT

Insider Transactions at Copart

In other news, CEO Jeffrey Liaw sold 24,283 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas N. Tryforos sold 100,000 shares of Copart stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total value of $3,907,000.00. The SEC filing for this sale provides additional information. 9.60% of the stock is currently owned by corporate insiders.

Copart Stock Down 3.5%

Shares of CPRT stock opened at $37.77 on Monday. Copart, Inc. has a 12 month low of $37.60 and a 12 month high of $63.85. The firm has a market cap of $36.56 billion, a PE ratio of 23.03 and a beta of 1.10. The stock has a 50 day moving average of $40.11 and a 200-day moving average of $44.43.

Copart (NASDAQ:CPRT – Get Free Report) last announced its earnings results on Thursday, November 20th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Copart had a net margin of 34.24% and a return on equity of 17.78%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the firm posted $0.37 earnings per share. Copart’s revenue was up .7% compared to the same quarter last year. As a group, equities analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

About Copart

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding CPRT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Copart, Inc. (NASDAQ:CPRT – Free Report).