Renaissance Group LLC Decreases Stock Holdings in Copart, Inc. $CPRT

Renaissance Group LLC lowered its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 11.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 490,396 shares of the business services provider’s stock after selling 65,373 shares during the quarter. Renaissance Group LLC’s holdings in Copart were worth $19,199,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC increased its stake in Copart by 92.1% during the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock worth $816,000 after acquiring an additional 6,817 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of 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 during the last quarter. Jump Financial LLC bought a new stake in shares of Copart in the 2nd quarter valued at approximately $2,677,000. Sei Investments Co. boosted its holdings in shares of Copart by 110.0% in 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 period. Finally, Treasurer of the State of North Carolina increased its position 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 valued at $20,270,000 after purchasing an additional 13,860 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of the stock in a transaction 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 transaction, the chief executive officer owned 79,532 shares of the company’s stock, valued at approximately $2,638,871.76. This represents a 24.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 9.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

Copart Stock Performance

Copart stock opened at $31.36 on Thursday. The company has a market capitalization of $29.03 billion, a PE ratio of 19.48 and a beta of 1.00. The company has a 50 day moving average price of $32.94 and a 200-day moving average price of $36.31. Copart, Inc. has a fifty-two week low of $29.97 and a fifty-two week high of $50.91.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.02. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.Copart’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 earnings per share. On average, analysts forecast that Copart, Inc. will post 1.58 earnings per share for the current year.

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.