Copart, Inc. $CPRT Shares Purchased by Cerity Partners LLC

Cerity Partners LLC raised its holdings in Copart, Inc. (NASDAQ:CPRT) by 13.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 364,076 shares of the business services provider’s stock after acquiring an additional 42,710 shares during the quarter. Cerity Partners LLC’s holdings in Copart were worth $16,373,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in CPRT. GC Wealth Management RIA LLC acquired a new position in shares of Copart in the 2nd quarter worth $219,000. Shell Asset Management Co. boosted its position in shares of Copart by 6.7% in the 2nd quarter. Shell Asset Management Co. now owns 167,910 shares of the business services provider’s stock valued at $8,239,000 after purchasing an additional 10,559 shares during the period. Nordea Investment Management AB boosted its position in shares of Copart by 3.5% in the 2nd quarter. Nordea Investment Management AB now owns 753,973 shares of the business services provider’s stock valued at $36,153,000 after purchasing an additional 25,564 shares during the period. Signal Advisors Wealth LLC increased its stake in Copart by 71.8% in the 2nd quarter. Signal Advisors Wealth LLC now owns 127,035 shares of the business services provider’s stock worth $6,234,000 after purchasing an additional 53,099 shares in the last quarter. Finally, California Public Employees Retirement System raised its holdings in Copart by 89.0% during the 2nd quarter. California Public Employees Retirement System now owns 2,548,275 shares of the business services provider’s stock worth $125,044,000 after buying an additional 1,200,035 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Price Performance

Copart stock opened at $39.83 on Friday. Copart, Inc. has a one year low of $37.41 and a one year high of $63.85. The company’s fifty day moving average price is $39.68 and its two-hundred day moving average price is $44.16. The company has a market capitalization of $38.56 billion, a price-to-earnings ratio of 24.29 and a beta of 1.10.

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

Insider Transactions at Copart

In related news, CEO Jeffrey Liaw sold 24,283 shares of the business’s 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 completion of the transaction, the chief executive officer owned 31,332 shares of the company’s stock, valued at approximately $1,403,360.28. The trade was a 43.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas N. Tryforos sold 100,000 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total value of $3,907,000.00. The disclosure for this sale is available in the SEC filing. 9.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. CJS Securities upgraded shares of Copart to a “strong-buy” rating in a report on Thursday, December 11th. Barclays restated an “underweight” rating and issued a $33.00 price target (up previously from $32.00) on shares of Copart in a research report on Friday, November 21st. Robert W. Baird decreased their price objective on shares of Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, November 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Copart in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reduced their target price on Copart from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Monday, November 24th. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.60.

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.