JARISLOWSKY FRASER Ltd Has $139.96 Million Holdings in Copart, Inc. $CPRT

JARISLOWSKY FRASER Ltd lessened its position in Copart, Inc. (NASDAQ:CPRT) by 2.6% in the 3rd quarter, Holdings Channel reports. The fund owned 3,112,375 shares of the business services provider’s stock after selling 82,339 shares during the period. JARISLOWSKY FRASER Ltd’s holdings in Copart were worth $139,964,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CPRT. Norges Bank purchased a new stake in shares of Copart in the second quarter valued at $549,448,000. Fiera Capital Corp raised its position in Copart by 75.3% during the second quarter. Fiera Capital Corp now owns 7,000,430 shares of the business services provider’s stock valued at $343,511,000 after buying an additional 3,007,820 shares during the period. First Trust Advisors LP lifted its stake in Copart by 75.2% in the 2nd quarter. First Trust Advisors LP now owns 6,579,404 shares of the business services provider’s stock worth $322,851,000 after acquiring an additional 2,824,991 shares in the last quarter. PineStone Asset Management Inc. boosted its position in Copart by 56.4% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,407,471 shares of the business services provider’s stock worth $314,415,000 after acquiring an additional 2,310,067 shares during the period. Finally, Vanguard Group Inc. grew its stake in Copart by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 106,408,868 shares of the business services provider’s stock valued at $5,221,483,000 after acquiring an additional 2,144,946 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Copart

In other Copart news, Director Thomas N. Tryforos sold 100,000 shares of the 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey Liaw sold 24,283 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total value of $1,087,635.57. Following the sale, the chief executive officer owned 31,332 shares in the company, valued at approximately $1,403,360.28. This trade represents a 43.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 9.60% of the stock is owned by corporate insiders.

Copart Stock Down 3.5%

Shares of CPRT stock opened at $37.77 on Friday. Copart, Inc. has a twelve month low of $37.60 and a twelve month high of $63.85. The company has a market cap of $36.56 billion, a P/E ratio of 23.03 and a beta of 1.12. The business has a fifty day simple moving average of $40.11 and a 200 day simple moving average of $44.48.

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

Wall Street Analyst Weigh In

CPRT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Copart from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Monday, November 24th. Stephens cut their target price 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. Robert W. Baird lowered their price target on shares of Copart from $55.00 to $52.00 and set an “outperform” rating on the stock in a report on Friday, November 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. Finally, CJS Securities raised Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Copart presently has an average rating of “Moderate Buy” and an average price target of $47.60.

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.