Copart, Inc. $CPRT Stake Raised by Jacobi Capital Management LLC

Jacobi Capital Management LLC increased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 9.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,414 shares of the business services provider’s stock after purchasing an additional 467 shares during the period. Jacobi Capital Management LLC’s holdings in Copart were worth $306,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Copart by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider’s stock worth $5,900,295,000 after purchasing an additional 2,134,890 shares in the last quarter. Principal Financial Group Inc. lifted its position in Copart by 3.3% during the 1st quarter. Principal Financial Group Inc. now owns 39,409,377 shares of the business services provider’s stock worth $2,230,177,000 after acquiring an additional 1,249,687 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Copart by 15.9% during the first quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider’s stock valued at $868,417,000 after acquiring an additional 2,106,656 shares during the period. Invesco Ltd. increased its stake in Copart by 7.5% during the first quarter. Invesco Ltd. now owns 9,490,237 shares of the business services provider’s stock valued at $537,052,000 after acquiring an additional 658,329 shares during the period. Finally, Amundi increased its stake in Copart by 32.5% in the first quarter. Amundi now owns 9,380,026 shares of the business services provider’s stock valued at $531,256,000 after acquiring an additional 2,299,192 shares during the period. Institutional investors own 85.78% of the company’s stock.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of the company’s stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the transaction, the chief executive officer owned 31,527 shares in the company, valued at approximately $1,463,798.61. This represents a 43.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 9.68% of the company’s stock.

Copart Price Performance

CPRT opened at $48.40 on Friday. The firm has a market capitalization of $46.80 billion, a price-to-earnings ratio of 30.25 and a beta of 1.03. Copart, Inc. has a fifty-two week low of $45.05 and a fifty-two week high of $64.38. The company’s 50 day moving average price is $47.39 and its two-hundred day moving average price is $52.47.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.14 billion. Copart had a net margin of 33.41% and a return on equity of 18.17%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.33 EPS. As a group, equities research analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Copart from $60.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, May 23rd. Stephens decreased their target price on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a research report on Friday, September 5th. Hsbc Global Res raised shares of Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. HSBC set a $62.00 target price on shares of Copart and gave the stock a “buy” rating in a research note on Thursday, September 4th. Finally, Robert W. Baird dropped their target price on shares of Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.50.

Copart Company Profile

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.