Copart, Inc. $CPRT Shares Bought by Bank of Nova Scotia

Bank of Nova Scotia grew its holdings in Copart, Inc. (NASDAQ:CPRT) by 617.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 836,722 shares of the business services provider’s stock after acquiring an additional 720,149 shares during the period. Bank of Nova Scotia owned about 0.09% of Copart worth $37,627,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC raised its position in Copart by 92.1% in the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock valued at $816,000 after purchasing an additional 6,817 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Copart by 365.8% in the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock worth $63,000 after buying an additional 878 shares during the period. Candriam S.C.A. boosted its position in shares of Copart by 15.3% in the second quarter. Candriam S.C.A. now owns 55,981 shares of the business services provider’s stock worth $2,747,000 after buying an additional 7,443 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. grew its stake in shares of Copart by 23.9% in the second quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 73,225 shares of the business services provider’s stock valued at $3,587,000 after buying an additional 14,107 shares in the last quarter. Finally, Empower Advisory Group LLC raised its holdings in shares of Copart by 10.4% during the 2nd quarter. Empower Advisory Group LLC now owns 5,256 shares of the business services provider’s stock valued at $258,000 after buying an additional 496 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insider Buying and Selling

In other news, CEO Jeffrey Liaw sold 25,137 shares of the company’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on CPRT shares. Zacks Research lowered Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 24th. CJS Securities raised shares of Copart to a “strong-buy” rating in a research report on Thursday, December 11th. JPMorgan Chase & Co. dropped their price objective on shares of Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday, February 23rd. Robert W. Baird set a $48.00 target price on shares of Copart and gave the stock an “outperform” rating in a research report on Friday, February 20th. Finally, Barclays restated an “underweight” rating and issued a $32.00 target price (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Copart presently has an average rating of “Hold” and an average price target of $44.40.

Copart Stock Performance

Copart stock opened at $34.09 on Monday. Copart, Inc. has a 1 year low of $33.53 and a 1 year high of $63.85. The firm’s 50-day moving average is $38.71 and its 200-day moving average is $41.38. The company has a market cap of $32.84 billion, a P/E ratio of 21.31 and a beta of 1.09.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.15 billion. Copart had a net margin of 33.76% and a return on equity of 16.68%. During the same period in the prior year, the company earned $0.40 EPS. Copart’s quarterly revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts predict that Copart, Inc. will post 1.57 earnings per share for the current 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.