American Century Companies Inc. Sells 122,674 Shares of Copart, Inc. $CPRT

American Century Companies Inc. trimmed its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 2.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,258,092 shares of the business services provider’s stock after selling 122,674 shares during the period. American Century Companies Inc. owned about 0.44% of Copart worth $191,486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in CPRT. Brighton Jones LLC boosted its stake in shares of Copart by 92.1% during the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock valued at $816,000 after purchasing an additional 6,817 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in Copart by 365.8% in the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock worth $63,000 after buying an additional 878 shares in the last quarter. Flagship Harbor Advisors LLC lifted its holdings in Copart by 87.9% during the second quarter. Flagship Harbor Advisors LLC now owns 7,831 shares of the business services provider’s stock worth $384,000 after buying an additional 3,664 shares during the period. World Investment Advisors bought a new stake in Copart during the 2nd quarter valued at $247,000. Finally, Strs Ohio increased its holdings in shares of Copart by 9.7% in the 2nd quarter. Strs Ohio now owns 244,088 shares of the business services provider’s stock valued at $11,977,000 after acquiring an additional 21,548 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

Copart stock opened at $38.09 on Friday. The stock has a market capitalization of $36.87 billion, a P/E ratio of 23.81 and a beta of 1.08. The company’s fifty day moving average price is $39.18 and its 200 day moving average price is $42.20. Copart, Inc. has a 1 year low of $33.81 and a 1 year high of $63.85.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Copart had a net margin of 33.76% and a return on equity of 16.68%. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.40 EPS. Sell-side analysts predict that Copart, Inc. will post 1.57 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their price objective on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. CJS Securities raised shares of Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Barclays reaffirmed an “underweight” rating and issued a $32.00 price objective (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Robert W. Baird set a $48.00 price objective on shares of Copart and gave the stock an “outperform” rating in a research note on Friday, February 20th. Finally, Zacks Research downgraded shares of Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 24th. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $44.40.

Insider Transactions at Copart

In related news, CEO Jeffrey Liaw sold 25,137 shares of the 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 completion of the transaction, the chief executive officer owned 55,970 shares of the company’s stock, valued at approximately $2,248,314.90. This trade represents a 30.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company 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.