Meeder Advisory Services Inc. Purchases Shares of 15,845 Copart, Inc. $CPRT

Meeder Advisory Services Inc. acquired a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 15,845 shares of the business services provider’s stock, valued at approximately $447,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in shares of Copart by 92.1% during the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock worth $816,000 after buying an additional 6,817 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Copart by 365.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock worth $63,000 after buying an additional 878 shares during the period. Jump Financial LLC acquired a new position in Copart in the 2nd quarter valued at about $2,677,000. Sei Investments Co. grew its stake in Copart by 110.0% in the 2nd quarter. Sei Investments Co. now owns 900,330 shares of the business services provider’s stock valued at $44,179,000 after buying an additional 471,571 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its holdings in Copart by 3.5% in 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 acquiring an additional 13,860 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Price Performance

Shares of NASDAQ CPRT opened at $34.33 on Friday. The stock has a market capitalization of $31.78 billion, a PE ratio of 21.32 and a beta of 1.01. The business has a fifty day moving average price of $29.43 and a two-hundred day moving average price of $32.70. Copart, Inc. has a fifty-two week low of $26.81 and a fifty-two week high of $50.11.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CPRT shares. Freedom Capital upgraded Copart to a “strong-buy” rating in a report on Friday, June 26th. Stephens reiterated an “equal weight” rating and set a $35.00 target price on shares of Copart in a research note on Thursday. Jefferies Financial Group set a $45.00 price target on Copart in a report on Friday, May 22nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Copart in a report on Wednesday, July 29th. Finally, Zacks Research cut Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Three 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 given a Sell rating to the stock. According to data from MarketBeat.com, Copart presently has a consensus rating of “Hold” and a consensus price target of $41.67.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the sale, the chief executive officer directly owned 99,641 shares in the company, valued at $3,038,054.09. This represents a 21.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 9.60% of the stock is owned by corporate insiders.

About Copart

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.