Copart, Inc. $CPRT Position Increased by NEOS Investment Management LLC

NEOS Investment Management LLC raised its position in shares of Copart, Inc. (NASDAQ:CPRT) by 54.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 448,197 shares of the business services provider’s stock after purchasing an additional 158,868 shares during the quarter. NEOS Investment Management LLC’s holdings in Copart were worth $20,155,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CPRT. Cloud Capital Management LLC acquired a new stake in shares of Copart in the 3rd quarter valued at about $25,000. Tripletail Wealth Management LLC acquired a new stake in shares of Copart in the third quarter valued at approximately $27,000. Creekmur Asset Management LLC lifted its holdings in shares of Copart by 1,063.0% during the 2nd quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock worth $31,000 after acquiring an additional 574 shares during the period. LRI Investments LLC lifted its holdings in shares of Copart by 125.2% in the third quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock worth $29,000 after acquiring an additional 363 shares during the last quarter. Finally, Cornerstone Planning Group LLC grew its holdings in shares of Copart by 54.0% during the third quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock worth $31,000 after purchasing an additional 256 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

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

Copart Trading Up 0.1%

Shares of CPRT stock opened at $37.52 on Wednesday. The stock has a fifty day simple moving average of $39.54 and a two-hundred day simple moving average of $42.72. Copart, Inc. has a twelve month low of $36.52 and a twelve month high of $63.85. The stock has a market capitalization of $36.32 billion, a price-to-earnings ratio of 22.88 and a beta of 1.08.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, November 20th. The business services provider reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.18 billion. During the same quarter in the previous year, the firm earned $0.37 earnings per share. The company’s revenue was up .7% on a year-over-year basis. Research analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other 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 transaction of $1,009,753.29. Following the transaction, the chief executive officer owned 55,970 shares in the company, valued at $2,248,314.90. The trade was a 30.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas N. Tryforos sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total transaction of $3,907,000.00. The SEC filing for this sale provides additional information. Insiders own 9.60% of the company’s stock.

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.