Copart, Inc. $CPRT Shares Acquired by Pacer Advisors Inc.

Pacer Advisors Inc. increased its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 564.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,523,773 shares of the business services provider’s stock after purchasing an additional 2,144,147 shares during the period. Pacer Advisors Inc. owned 0.26% of Copart worth $98,806,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Nordea Investment Management AB raised its holdings in shares of Copart by 4.1% during the 4th quarter. Nordea Investment Management AB now owns 798,087 shares of the business services provider’s stock valued at $31,353,000 after buying an additional 31,658 shares during the period. Comgest Global Investors S.A.S. boosted its holdings in Copart by 7.2% in the 3rd quarter. Comgest Global Investors S.A.S. now owns 3,181,919 shares of the business services provider’s stock worth $143,091,000 after acquiring an additional 212,520 shares during the period. Davidson Kahn Capital Management LLC boosted its holdings in Copart by 56.3% in the 4th quarter. Davidson Kahn Capital Management LLC now owns 100,151 shares of the business services provider’s stock worth $3,921,000 after acquiring an additional 36,091 shares during the period. ABN Amro Investment Solutions grew its position in Copart by 82.5% in the fourth quarter. ABN Amro Investment Solutions now owns 199,794 shares of the business services provider’s stock valued at $7,822,000 after acquiring an additional 90,339 shares in the last quarter. Finally, Integrated Wealth Concepts LLC grew its position in Copart by 21.0% in the third quarter. Integrated Wealth Concepts LLC now owns 249,396 shares of the business services provider’s stock valued at $11,215,000 after acquiring an additional 43,292 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on CPRT. Barclays reissued an “underweight” rating and set a $32.00 target price (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Zacks Research raised shares of Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. JPMorgan Chase & Co. cut their price objective on shares of Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a report 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 report on Friday, February 20th. Finally, Weiss Ratings cut shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $44.50.

Copart Stock Up 2.4%

CPRT stock opened at $30.23 on Friday. The stock’s 50 day moving average is $32.61 and its two-hundred day moving average is $35.94. Copart, Inc. has a 52-week low of $29.46 and a 52-week high of $50.11. The company has a market capitalization of $27.99 billion, a PE ratio of 18.78 and a beta of 1.00.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. Copart had a return on equity of 16.63% and a net margin of 33.48%.The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the business posted $0.42 EPS. The business’s revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Copart, Inc. will post 1.58 EPS for the current year.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total transaction of $869,747.34. Following the transaction, the chief executive officer directly owned 79,532 shares in the company, valued at $2,638,871.76. This represents a 24.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 9.60% of the stock is owned by corporate insiders.

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.