Pinnacle Financial Partners Inc Decreases Stock Position in Copart, Inc. $CPRT

Pinnacle Financial Partners Inc lowered its position in shares of Copart, Inc. (NASDAQ:CPRT) by 12.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 292,621 shares of the business services provider’s stock after selling 42,257 shares during the period. Pinnacle Financial Partners Inc’s holdings in Copart were worth $13,159,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CPRT. GC Wealth Management RIA LLC purchased a new position in Copart in the second quarter valued at about $219,000. Shell Asset Management Co. raised its position in shares of Copart by 6.7% in the 2nd quarter. Shell Asset Management Co. now owns 167,910 shares of the business services provider’s stock valued at $8,239,000 after purchasing an additional 10,559 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Copart by 3.5% during the 2nd quarter. Nordea Investment Management AB now owns 753,973 shares of the business services provider’s stock valued at $36,153,000 after buying an additional 25,564 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Copart by 89.0% during the 2nd quarter. California Public Employees Retirement System now owns 2,548,275 shares of the business services provider’s stock valued at $125,044,000 after buying an additional 1,200,035 shares during the last quarter. Finally, Lord & Richards Wealth Management LLC grew its position in shares of Copart by 32.6% during the second quarter. Lord & Richards Wealth Management LLC now owns 34,245 shares of the business services provider’s stock worth $1,680,000 after buying an additional 8,413 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Thomas N. Tryforos sold 100,000 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total value of $3,907,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jeffrey Liaw sold 25,137 shares of Copart stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the completion of the sale, the chief executive officer owned 55,970 shares in the company, valued at approximately $2,248,314.90. This represents a 30.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 9.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. JPMorgan Chase & Co. cut their target price on shares of Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday, November 24th. CJS Securities upgraded Copart to a “strong-buy” rating in a research note on Thursday, December 11th. Barclays restated an “underweight” rating and set a $33.00 price objective (up previously from $32.00) on shares of Copart in a research note on Friday, November 21st. Finally, Robert W. Baird reduced their target price on Copart from $55.00 to $52.00 and set an “outperform” rating on the stock in a report on Friday, November 21st. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $47.60.

Copart Stock Performance

NASDAQ CPRT opened at $41.04 on Friday. Copart, Inc. has a one year low of $37.41 and a one year high of $63.85. The company has a 50-day simple moving average of $39.55 and a 200-day simple moving average of $43.88. The firm has a market capitalization of $39.73 billion, a PE ratio of 25.02 and a beta of 1.10.

Copart (NASDAQ:CPRT) last issued its earnings results on Thursday, November 20th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The firm had revenue of $1.16 billion for 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%. Copart’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the company posted $0.37 earnings per share. Equities analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Copart Company 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.