Wisconsin Capital Management LLC Trims Stock Position in Copart, Inc. $CPRT

Wisconsin Capital Management LLC trimmed its stake in Copart, Inc. (NASDAQ:CPRT) by 79.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,583 shares of the business services provider’s stock after selling 61,558 shares during the period. Wisconsin Capital Management LLC’s holdings in Copart were worth $701,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cloud Capital Management LLC acquired a new position in Copart in the third quarter valued at $25,000. Tripletail Wealth Management LLC purchased a new stake in shares of Copart in the 3rd quarter valued at about $27,000. LRI Investments LLC boosted its position in shares of Copart by 125.2% in the 3rd quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 363 shares during the period. Cornerstone Planning Group LLC boosted its position in shares of Copart by 54.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 256 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. grew its stake in Copart by 173.4% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 864 shares of the business services provider’s stock worth $39,000 after buying an additional 548 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Jeffrey Liaw sold 25,137 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total value of $1,009,753.29. Following the completion of the sale, the chief executive officer directly owned 55,970 shares of the company’s stock, valued at $2,248,314.90. This trade represents a 30.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 9.60% of the company’s stock.

Copart Stock Performance

Shares of Copart stock opened at $38.48 on Wednesday. Copart, Inc. has a one year low of $33.81 and a one year high of $63.85. The company has a market cap of $37.25 billion, a P/E ratio of 24.05 and a beta of 1.09. The firm has a fifty day moving average of $39.14 and a two-hundred day moving average of $42.04.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Copart had a net margin of 33.76% and a return on equity of 16.68%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 EPS. As a group, equities analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CPRT shares. CJS Securities raised Copart to a “strong-buy” rating in a report on Thursday, December 11th. Barclays reiterated an “underweight” rating and set a $32.00 price target (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. Robert W. Baird set a $48.00 price objective on shares of Copart and gave the company an “outperform” rating in a research note on Friday, February 20th. JPMorgan Chase & Co. reduced their target price on shares of Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a report on Monday, February 23rd. Finally, Zacks Research lowered Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 24th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Copart presently has an average rating of “Hold” and a consensus price target of $44.40.

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.