Copart, Inc. $CPRT Shares Acquired by Confluence Investment Management LLC

Confluence Investment Management LLC boosted its position in Copart, Inc. (NASDAQ:CPRT) by 44.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 422,532 shares of the business services provider’s stock after acquiring an additional 129,591 shares during the quarter. Confluence Investment Management LLC’s holdings in Copart were worth $11,527,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its holdings in Copart by 14.0% in the first quarter. Janney Montgomery Scott LLC now owns 333,624 shares of the business services provider’s stock valued at $11,076,000 after buying an additional 41,060 shares during the period. Handelsbanken Fonder AB increased its position in shares of Copart by 6.4% in the second quarter. Handelsbanken Fonder AB now owns 578,452 shares of the business services provider’s stock worth $16,307,000 after acquiring an additional 34,855 shares in the last quarter. Focus Partners Advisor Solutions LLC purchased a new position in shares of Copart in the 2nd quarter valued at $1,298,000. Mill Capital Management LLC acquired a new position in shares of Copart during the 2nd quarter valued at $12,711,000. Finally, Barbara Oil Co. purchased a new stake in Copart during the 2nd quarter worth $1,585,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of Copart 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 of the company’s stock, valued at $3,038,054.09. The trade was a 21.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CPRT. BNP Paribas Exane reaffirmed an “outperform” rating and issued a $43.00 target price (up from $40.00) on shares of Copart in a research report on Monday. Freedom Capital raised shares of Copart to a “strong-buy” rating in a research report on Friday, June 26th. HSBC cut shares of Copart from a “buy” rating to a “hold” rating and set a $36.00 target price on the stock. in a research report on Wednesday, September 16th. JPMorgan Chase & Co. raised shares of Copart from a “neutral” rating to an “overweight” rating and raised their price target for the company from $32.00 to $40.00 in a report on Thursday, September 3rd. Finally, Robert W. Baird cut their target price on Copart from $42.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, September 11th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Copart currently has an average rating of “Moderate Buy” and a consensus price target of $37.80.

Copart Stock Down 0.7%

CPRT stock traded down $0.20 during midday trading on Thursday, reaching $27.09. The company had a trading volume of 2,505,936 shares, compared to its average volume of 10,192,976. The firm has a market capitalization of $25.08 billion, a PE ratio of 17.47, a P/E/G ratio of 1.32 and a beta of 1.03. The stock has a 50 day moving average price of $30.62 and a 200 day moving average price of $31.31. Copart, Inc. has a fifty-two week low of $26.74 and a fifty-two week high of $45.89.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, September 10th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). Copart had a net margin of 31.81% and a return on equity of 15.93%. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.14 billion. During the same quarter in the previous year, the business posted $0.41 earnings per share. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. Research analysts predict that Copart, Inc. will post 1.65 EPS for the current year.

Copart Company Profile

Copart, Inc is a global provider of online vehicle auction and remarketing services. The company primarily sells vehicles that have been damaged, totaled, recovered from theft, or otherwise deemed uneconomical to repair. Its customers include insurance companies, automobile dealers, dismantlers, rebuilders, exporters, rental and finance companies, and members of the general public.

Copart conducts auctions through its online VB3 platform, which connects buyers with vehicles listed at the company’s facilities.