Transcend Capital Advisors LLC Takes Position in Copart, Inc. $CPRT

Transcend Capital Advisors LLC bought a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,600 shares of the business services provider’s stock, valued at approximately $567,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CPRT. Shell Asset Management Co. lifted its holdings 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 buying an additional 10,559 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Copart by 13.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 371,603 shares of the business services provider’s stock worth $16,711,000 after purchasing an additional 45,346 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Copart by 3.5% during the 2nd quarter. Nordea Investment Management AB now owns 753,973 shares of the business services provider’s stock worth $36,153,000 after purchasing an additional 25,564 shares during the period. California Public Employees Retirement System grew its stake in shares of 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 purchasing an additional 1,200,035 shares during the period. Finally, Lord & Richards Wealth Management LLC increased its holdings in shares of Copart by 32.6% during the 2nd quarter. Lord & Richards Wealth Management LLC now owns 34,245 shares of the business services provider’s stock valued at $1,680,000 after purchasing an additional 8,413 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Trading Down 2.2%

NASDAQ:CPRT opened at $39.68 on Tuesday. The stock has a 50 day moving average of $39.50 and a two-hundred day moving average of $43.28. Copart, Inc. has a 12 month low of $37.41 and a 12 month high of $63.85. The firm has a market cap of $38.41 billion, a P/E ratio of 24.20 and a beta of 1.10.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, November 20th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the previous year, the company posted $0.37 earnings per share. The business’s revenue was up .7% on a year-over-year basis. On average, research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. CJS Securities raised shares of Copart to a “strong-buy” rating in a report on Thursday, December 11th. JPMorgan Chase & Co. lowered their target price on shares of Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday, November 24th. Robert W. Baird cut their price target on Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, November 21st. Barclays reaffirmed an “underweight” rating and issued a $33.00 price target (up previously from $32.00) on shares of Copart in a report on Friday, November 21st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $47.60.

Insider Buying and Selling at Copart

In related news, 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 transaction of $3,907,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffrey Liaw sold 25,137 shares of the company’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the sale, the chief executive officer directly owned 55,970 shares of the company’s stock, valued at approximately $2,248,314.90. This represents a 30.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 9.60% of the company’s stock.

About Copart

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.