X Square Capital LLC Invests $2.56 Million in Copart, Inc. $CPRT

X Square Capital LLC purchased a new stake in Copart, Inc. (NASDAQ:CPRT) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 90,655 shares of the business services provider’s stock, valued at approximately $2,556,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in Copart during the second quarter worth about $1,908,980,000. State Street Corp lifted its position in shares of Copart by 1.3% during the 4th quarter. State Street Corp now owns 37,555,437 shares of the business services provider’s stock valued at $1,470,295,000 after acquiring an additional 492,506 shares during the period. Capital World Investors lifted its position in shares of Copart by 25.1% during the 4th quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock valued at $1,085,588,000 after acquiring an additional 5,555,101 shares during the period. Geode Capital Management LLC boosted its stake in shares of Copart by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 23,255,161 shares of the business services provider’s stock worth $906,836,000 after acquiring an additional 131,703 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Copart by 21.7% during the 4th quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock worth $860,618,000 after acquiring an additional 3,918,610 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Price Performance

Shares of NASDAQ CPRT opened at $33.80 on Friday. The firm’s 50-day moving average is $29.49 and its two-hundred day moving average is $32.71. The company has a market capitalization of $31.29 billion, a PE ratio of 20.99 and a beta of 1.01. Copart, Inc. has a 12-month low of $26.81 and a 12-month high of $50.11.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the company posted $0.42 EPS. The company’s revenue was up 2.1% on a year-over-year basis. On average, analysts forecast that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of the stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total transaction of $845,945.05. Following the sale, the chief executive officer owned 99,641 shares in the company, valued at approximately $3,038,054.09. This represents a 21.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.60% of the company’s stock.

Wall Street Analyst Weigh In

CPRT has been the topic of a number of research reports. Jefferies Financial Group set a $45.00 price target on Copart in a report on Friday, May 22nd. Stephens reaffirmed an “equal weight” rating and set a $35.00 price objective on shares of Copart in a report on Thursday. Zacks Research downgraded Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Weiss Ratings reissued a “sell (d+)” rating on shares of Copart in a report on Wednesday, July 29th. Finally, Freedom Capital upgraded Copart to a “strong-buy” rating in a research report on Friday, June 26th. Three investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Copart presently has an average rating of “Hold” and an average target price of $41.67.

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.