Bessemer Group Inc. Cuts Holdings in Copart, Inc. $CPRT

Bessemer Group Inc. cut its holdings in Copart, Inc. (NASDAQ:CPRT) by 40.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,187 shares of the business services provider’s stock after selling 27,747 shares during the quarter. Bessemer Group Inc.’s holdings in Copart were worth $1,370,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CPRT. Quadrant Capital Group LLC boosted its position in shares of Copart by 1.3% during the 3rd quarter. Quadrant Capital Group LLC now owns 20,693 shares of the business services provider’s stock worth $931,000 after purchasing an additional 264 shares in the last quarter. Sierra Legacy Group increased its holdings in shares of Copart by 1.9% in the 4th quarter. Sierra Legacy Group now owns 13,880 shares of the business services provider’s stock valued at $543,000 after purchasing an additional 265 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Copart by 23.8% in the second quarter. Geneos Wealth Management Inc. now owns 1,384 shares of the business services provider’s stock valued at $68,000 after purchasing an additional 266 shares during the period. Brown Miller Wealth Management LLC lifted its stake in shares of Copart by 3.8% in the fourth quarter. Brown Miller Wealth Management LLC now owns 7,310 shares of the business services provider’s stock valued at $286,000 after purchasing an additional 268 shares during the period. Finally, Valeo Financial Advisors LLC boosted its holdings in Copart by 4.6% during the fourth quarter. Valeo Financial Advisors LLC now owns 6,395 shares of the business services provider’s stock worth $250,000 after buying an additional 282 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

CPRT has been the subject of a number of research analyst reports. Weiss Ratings cut shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Barclays set a $26.00 price target on Copart and gave the stock an “underweight” rating in a research note on Tuesday. Jefferies Financial Group set a $45.00 price objective on Copart in a research note on Friday, May 22nd. Freedom Capital raised Copart to a “strong-buy” rating in a report on Friday, June 26th. Finally, Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Three research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.50.

Copart Price Performance

Shares of NASDAQ CPRT opened at $27.20 on Friday. Copart, Inc. has a 12-month low of $26.81 and a 12-month high of $50.11. The company has a market capitalization of $25.18 billion, a PE ratio of 16.89 and a beta of 1.02. The firm’s 50-day moving average is $30.26 and its two-hundred day moving average is $34.12.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Copart had a net margin of 33.48% and a return on equity of 16.63%. The company’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the company posted $0.42 EPS. On average, analysts forecast that Copart, Inc. will post 1.58 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.