Machina Capital S.A.S. Boosts Stock Position in Copart, Inc. $CPRT

Machina Capital S.A.S. boosted its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 311.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 125,182 shares of the business services provider’s stock after purchasing an additional 94,742 shares during the period. Copart comprises approximately 1.0% of Machina Capital S.A.S.’s holdings, making the stock its 13th largest holding. Machina Capital S.A.S.’s holdings in Copart were worth $5,629,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Copart by 2.1% during 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. increased its position 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 valued at $1,806,674,000 after purchasing an additional 1,236,101 shares during the period. State Street Corp raised its holdings 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 worth $1,786,467,000 after purchasing an additional 1,167,265 shares in the last quarter. Geode Capital Management LLC raised its holdings in Copart by 3.3% in the 2nd quarter. Geode Capital Management LLC now owns 20,462,076 shares of the business services provider’s stock worth $999,305,000 after purchasing an additional 656,333 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Copart in the 2nd quarter worth about $549,448,000. Institutional investors own 85.78% of the company’s stock.

Copart Stock Down 1.9%

Copart stock opened at $38.94 on Wednesday. Copart, Inc. has a twelve month low of $37.41 and a twelve month high of $63.85. The company has a market capitalization of $37.69 billion, a P/E ratio of 23.74 and a beta of 1.08. The stock’s 50 day moving average is $39.50 and its 200 day moving average is $43.23.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, November 20th. The business services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. Copart had a return on equity of 17.78% and a net margin of 34.24%.The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the previous year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year. As a group, equities analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

Insider Transactions at Copart

In related news, Director Thomas N. Tryforos sold 100,000 shares of the 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey Liaw sold 25,137 shares of the firm’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 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 SEC filing for this sale provides additional information. Insiders own 9.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.