Osaic Holdings Inc. Buys 35,295 Shares of Copart, Inc. $CPRT

Osaic Holdings Inc. raised its stake in Copart, Inc. (NASDAQ:CPRT) by 24.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 182,179 shares of the business services provider’s stock after purchasing an additional 35,295 shares during the period. Osaic Holdings Inc.’s holdings in Copart were worth $9,167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Brighton Jones LLC lifted its position in Copart by 92.1% during the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock valued at $816,000 after acquiring an additional 6,817 shares during the last quarter. Algert Global LLC increased its position in shares of Copart by 122.6% during the first quarter. Algert Global LLC now owns 11,185 shares of the business services provider’s stock worth $633,000 after purchasing an additional 6,160 shares in the last quarter. Credit Agricole S A lifted its holdings in shares of Copart by 8.7% during the 1st quarter. Credit Agricole S A now owns 34,152 shares of the business services provider’s stock valued at $1,933,000 after purchasing an additional 2,726 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Copart by 3.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,308,282 shares of the business services provider’s stock worth $470,167,000 after purchasing an additional 243,181 shares in the last quarter. Finally, Compound Planning Inc. grew its stake in Copart by 13.2% during the 1st quarter. Compound Planning Inc. now owns 16,023 shares of the business services provider’s stock worth $907,000 after buying an additional 1,873 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on CPRT. Weiss Ratings reiterated a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. Barclays reaffirmed an “underweight” rating and issued a $33.00 price objective (up from $32.00) on shares of Copart in a research report on Friday, November 21st. Stephens dropped their target price on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Friday, September 5th. CJS Securities raised shares of Copart to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Robert W. Baird dropped their price objective on shares of Copart from $55.00 to $52.00 and set an “outperform” rating on the stock in a report on Friday, November 21st. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Copart presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.60.

Insider Activity

In other Copart news, CEO Jeffrey Liaw sold 24,283 shares of the stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the sale, the chief executive officer directly owned 31,332 shares of the company’s stock, valued at approximately $1,403,360.28. This trade represents a 43.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas N. Tryforos sold 100,000 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total value of $3,907,000.00. The SEC filing for this sale provides additional information. 9.60% of the stock is currently owned by company insiders.

Copart Trading Down 0.4%

CPRT opened at $39.07 on Friday. Copart, Inc. has a 12-month low of $38.18 and a 12-month high of $63.85. The firm has a 50 day moving average of $41.22 and a two-hundred day moving average of $45.19. The firm has a market capitalization of $37.82 billion, a PE ratio of 23.82 and a beta of 1.12.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, November 20th. The business services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. Copart had a net margin of 34.24% and a return on equity of 17.78%. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the prior year, the firm earned $0.37 EPS. The business’s revenue for the quarter was up .7% on a year-over-year basis. As a group, analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

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.