Yacktman Asset Management LP Makes New $3.38 Million Investment in Copart, Inc. $CPRT

Yacktman Asset Management LP purchased a new stake in shares of Copart, Inc. (NASDAQ:CPRT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 75,195 shares of the business services provider’s stock, valued at approximately $3,382,000.

Several other hedge funds also recently bought and sold shares of CPRT. Stephens Inc. AR lifted its holdings in shares of Copart by 0.7% in the second quarter. Stephens Inc. AR now owns 30,312 shares of the business services provider’s stock valued at $1,487,000 after purchasing an additional 218 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Copart by 0.8% in the second quarter. Allworth Financial LP now owns 28,978 shares of the business services provider’s stock valued at $1,422,000 after purchasing an additional 228 shares during the last quarter. Blue Trust Inc. grew its position in shares of Copart by 15.4% in the second quarter. Blue Trust Inc. now owns 1,742 shares of the business services provider’s stock valued at $85,000 after purchasing an additional 232 shares during the last quarter. PDS Planning Inc grew its stake in shares of Copart by 4.9% in the third quarter. PDS Planning Inc now owns 5,196 shares of the business services provider’s stock valued at $234,000 after acquiring an additional 242 shares in the last quarter. Finally, Hollencrest Capital Management grew its position in Copart by 13.2% during the third quarter. Hollencrest Capital Management now owns 2,088 shares of the business services provider’s stock worth $94,000 after buying an additional 244 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Stock Performance

Shares of CPRT stock opened at $40.58 on Monday. The firm has a market cap of $39.28 billion, a price-to-earnings ratio of 24.74 and a beta of 1.08. Copart, Inc. has a 52 week low of $37.41 and a 52 week high of $63.85. The firm’s 50-day simple moving average is $39.49 and its two-hundred day simple moving average is $43.32.

Copart (NASDAQ:CPRT) last posted 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 the consensus estimate of $1.18 billion. Copart had a return on equity of 17.78% and a net margin of 34.24%.The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.37 EPS. Analysts forecast 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 25,137 shares of the company’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 sale, the chief executive officer 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. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas N. Tryforos sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total transaction of $3,907,000.00. Additional details regarding this sale are available in the official SEC disclosure. 9.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CPRT has been the subject of a number of research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. JPMorgan Chase & Co. lowered their target price on shares of Copart from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, November 24th. CJS Securities upgraded Copart to a “strong-buy” rating in a report on Thursday, December 11th. Barclays reaffirmed an “underweight” rating and issued a $33.00 price target (up from $32.00) on shares of Copart in a research note on Friday, November 21st. Finally, Robert W. Baird reduced their price objective on Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, November 21st. 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 given a Sell rating to the company. According to data from MarketBeat, Copart presently has an average rating of “Moderate Buy” and an average target price 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.