Groesbeck Investment Management Corp NJ Invests $1.38 Million in Copart, Inc. $CPRT

Groesbeck Investment Management Corp NJ purchased a new stake in shares of Copart, Inc. (NASDAQ:CPRT) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 30,595 shares of the business services provider’s stock, valued at approximately $1,376,000. Copart comprises approximately 2.7% of Groesbeck Investment Management Corp NJ’s holdings, making the stock its 11th largest position.

A number of other large investors have also added to or reduced their stakes in CPRT. Brighton Jones LLC grew its position in Copart by 92.1% in 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 in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Copart by 25.2% in the 1st quarter. NewEdge Advisors LLC now owns 29,436 shares of the business services provider’s stock worth $1,666,000 after purchasing an additional 5,918 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Copart by 24.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,129,285 shares of the business services provider’s stock worth $233,676,000 after purchasing an additional 821,074 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in Copart during the 1st quarter valued at $218,000. Finally, Meiji Yasuda Asset Management Co Ltd. raised its holdings in Copart by 2.1% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,920 shares of the business services provider’s stock valued at $788,000 after buying an additional 286 shares during the period. Institutional investors own 85.78% of the company’s stock.

Insider Transactions at Copart

In other news, CEO Jeffrey Liaw sold 24,283 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas N. Tryforos sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total transaction of $3,907,000.00. Additional details regarding this sale are available in the official SEC disclosure. 9.60% of the stock is owned by corporate insiders.

Copart Stock Performance

Copart stock opened at $38.19 on Thursday. The company has a market capitalization of $36.97 billion, a PE ratio of 23.29 and a beta of 1.10. The company has a 50 day moving average price of $39.81 and a 200-day moving average price of $44.25. Copart, Inc. has a fifty-two week low of $37.41 and a fifty-two week high of $63.85.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, November 20th. The business services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. Copart had a return on equity of 17.78% and a net margin of 34.24%.The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period last year, the business posted $0.37 EPS. Copart’s quarterly revenue was up .7% on a year-over-year basis. On average, analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.