Copart, Inc. $CPRT Holdings Increased by Seilern Investment Management Ltd

Seilern Investment Management Ltd boosted its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 12.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,188,547 shares of the business services provider’s stock after acquiring an additional 135,850 shares during the quarter. Copart accounts for about 4.1% of Seilern Investment Management Ltd’s portfolio, making the stock its 13th largest position. Seilern Investment Management Ltd’s holdings in Copart were worth $32,424,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CPRT. Confluence Investment Management LLC raised its position in Copart by 44.2% during the 3rd quarter. Confluence Investment Management LLC now owns 422,532 shares of the business services provider’s stock worth $11,527,000 after purchasing an additional 129,591 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Copart by 14.0% during the first quarter. Janney Montgomery Scott LLC now owns 333,624 shares of the business services provider’s stock worth $11,076,000 after acquiring an additional 41,060 shares during the last quarter. Handelsbanken Fonder AB raised its position in shares of Copart by 6.4% during 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 during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Copart by 3,034.7% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 200,557 shares of the business services provider’s stock worth $5,471,000 after acquiring an additional 194,159 shares during the period. Finally, Focus Partners Advisor Solutions LLC acquired a new position in shares of Copart in the second quarter worth approximately $1,298,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Performance

Shares of Copart stock traded down $0.21 on Tuesday, reaching $26.27. 3,125,041 shares of the company’s stock were exchanged, compared to its average volume of 10,149,855. The company has a market capitalization of $24.33 billion, a P/E ratio of 16.95, a price-to-earnings-growth ratio of 1.34 and a beta of 1.06. Copart, Inc. has a 52 week low of $26.17 and a 52 week high of $45.89. The firm’s 50-day moving average is $30.27 and its two-hundred day moving average is $30.96.

Copart (NASDAQ:CPRT) last released 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). The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.14 billion. Copart had a net margin of 31.81% and a return on equity of 15.93%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 EPS. On average, analysts expect that Copart, Inc. will post 1.63 EPS for the current fiscal year.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 27,745 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total value of $845,945.05. Following the completion of the sale, the chief executive officer directly 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 filing with the SEC, which is available at the SEC website. 9.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on CPRT. Zacks Research raised shares of Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, September 7th. Freedom Capital raised shares of Copart to a “strong-buy” rating in a research note on Friday, June 26th. Stephens reiterated an “equal weight” rating and set a $35.00 price objective on shares of Copart in a research report on Thursday, August 20th. Freedom Broker decreased their price objective on shares of Copart from $39.00 to $36.00 and set a “buy” rating for the company in a research report on Monday, September 14th. Finally, Barclays set a $25.00 target price on shares of Copart and gave the stock an “underweight” rating in a research note on Wednesday, August 26th. Two equities 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.80.

Copart 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.