37,171 Shares in Copart, Inc. $CPRT Purchased by Edgemoor Investment Advisors Inc.

Edgemoor Investment Advisors Inc. bought a new stake in shares of Copart, Inc. (NASDAQ:CPRT) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 37,171 shares of the business services provider’s stock, valued at approximately $1,672,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Copart by 2.1% in the second quarter. Vanguard Group Inc. now owns 106,408,868 shares of the business services provider’s stock valued at $5,221,483,000 after acquiring an additional 2,144,946 shares in the last quarter. Principal Financial Group Inc. grew its stake in Copart by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider’s stock worth $1,806,674,000 after buying an additional 1,236,101 shares during the last quarter. State Street Corp lifted its position in Copart by 3.3% in the 2nd quarter. State Street Corp now owns 36,406,503 shares of the business services provider’s stock valued at $1,786,467,000 after purchasing an additional 1,167,265 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Copart by 3.3% during the second quarter. Geode Capital Management LLC now owns 20,462,076 shares of the business services provider’s stock valued at $999,305,000 after buying an additional 656,333 shares during the last quarter. Finally, Norges Bank acquired a new position in Copart during the 2nd quarter worth $549,448,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CPRT shares. JPMorgan Chase & Co. cut their price objective on Copart from $50.00 to $45.00 and set a “neutral” rating for the company in a research report 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 restated an “underweight” rating and set a $33.00 target price (up from $32.00) on shares of Copart in a report on Friday, November 21st. Finally, CJS Securities raised shares of Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $47.60.

Copart Stock Performance

CPRT opened at $40.30 on Tuesday. The company has a fifty day moving average price of $39.60 and a two-hundred day moving average price of $43.05. The firm has a market capitalization of $39.01 billion, a PE ratio of 24.57 and a beta of 1.08. Copart, Inc. has a 52 week low of $37.41 and a 52 week high of $63.85.

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

Insider Buying and Selling at Copart

In other news, Director Thomas N. Tryforos sold 100,000 shares of the business’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total transaction of $3,907,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey Liaw sold 25,137 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 55,970 shares in the company, valued at $2,248,314.90. This represents a 30.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 9.60% of the company’s stock.

Copart Company 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.