Aberdeen Group plc Has $26.29 Million Stock Position in Copart, Inc. $CPRT

Aberdeen Group plc increased its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 14.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 584,555 shares of the business services provider’s stock after acquiring an additional 72,682 shares during the quarter. Aberdeen Group plc owned about 0.06% of Copart worth $26,287,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Norges Bank bought a new position in shares of Copart during the 2nd quarter worth about $549,448,000. Fiera Capital Corp lifted its stake in shares of Copart by 75.3% in the second quarter. Fiera Capital Corp now owns 7,000,430 shares of the business services provider’s stock valued at $343,511,000 after buying an additional 3,007,820 shares during the period. First Trust Advisors LP grew its position in Copart by 75.2% during the second quarter. First Trust Advisors LP now owns 6,579,404 shares of the business services provider’s stock worth $322,851,000 after buying an additional 2,824,991 shares in the last quarter. Vanguard Group Inc. grew its position in Copart by 2.1% during the second quarter. Vanguard Group Inc. now owns 106,408,868 shares of the business services provider’s stock worth $5,221,483,000 after buying an additional 2,144,946 shares in the last quarter. Finally, Jensen Investment Management Inc. increased its stake in Copart by 39.4% during the second quarter. Jensen Investment Management Inc. now owns 5,315,861 shares of the business services provider’s stock valued at $260,849,000 after acquiring an additional 1,503,771 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of Copart stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total value of $1,009,753.29. Following the completion of the transaction, the chief executive officer owned 55,970 shares in the company, valued at approximately $2,248,314.90. The trade was a 30.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $3,907,000.00. The disclosure for this sale is available in the SEC filing. 9.60% of the stock is owned by corporate insiders.

Copart Stock Up 0.1%

Shares of CPRT stock opened at $37.52 on Wednesday. Copart, Inc. has a 12-month low of $36.52 and a 12-month high of $63.85. The company has a market capitalization of $36.32 billion, a P/E ratio of 22.88 and a beta of 1.08. The firm has a 50-day moving average price of $39.54 and a 200 day moving average price of $42.72.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data 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 firm had revenue of $1.16 billion for 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 company’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.37 earnings per share. As a group, research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. JPMorgan Chase & Co. reduced 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. Barclays restated an “underweight” rating and set a $33.00 price objective (up from $32.00) on shares of Copart in a research report on Friday, November 21st. Robert W. Baird reduced 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. Finally, CJS Securities upgraded shares of Copart to a “strong-buy” rating in a research note on Thursday, December 11th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.