Aptus Capital Advisors LLC Has $17.18 Million Position in Copart, Inc. $CPRT

Aptus Capital Advisors LLC raised its stake in Copart, Inc. (NASDAQ:CPRT) by 11.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 382,036 shares of the business services provider’s stock after acquiring an additional 40,093 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Copart were worth $17,180,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Copart by 13.9% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 371,603 shares of the business services provider’s stock worth $16,711,000 after purchasing an additional 45,346 shares in the last quarter. California Public Employees Retirement System grew its position in Copart by 89.0% during the second quarter. California Public Employees Retirement System now owns 2,548,275 shares of the business services provider’s stock valued at $125,044,000 after acquiring an additional 1,200,035 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Copart by 3.2% during the third quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider’s stock worth $1,806,674,000 after acquiring an additional 1,236,101 shares in the last quarter. Yacktman Asset Management LP bought a new stake in shares of Copart in the 3rd quarter valued at about $3,382,000. Finally, Comgest Global Investors S.A.S. boosted its stake in shares of Copart by 7.2% during the third quarter. Comgest Global Investors S.A.S. now owns 3,181,919 shares of the business services provider’s stock valued at $143,091,000 after purchasing an additional 212,520 shares during the period. 85.78% of the stock is currently owned by institutional investors.

Copart Stock Performance

NASDAQ CPRT opened at $37.72 on Friday. The company has a market capitalization of $36.34 billion, a price-to-earnings ratio of 23.58 and a beta of 1.09. The company’s 50-day simple moving average is $39.07 and its two-hundred day simple moving average is $41.92. Copart, Inc. has a one year low of $33.81 and a one year high of $63.85.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.03). The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.15 billion. Copart had a net margin of 33.76% and a return on equity of 16.68%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same period last year, the business posted $0.40 EPS. Equities analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of the business’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. The trade was a 30.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 9.60% of the company’s stock.

Analyst Upgrades and Downgrades

CPRT has been the topic of several research reports. Barclays restated an “underweight” rating and set a $32.00 price target (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Robert W. Baird set a $48.00 price target on Copart and gave the company an “outperform” rating in a report on Friday, February 20th. Zacks Research downgraded Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 24th. CJS Securities raised Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Two 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 MarketBeat, the company has an average rating of “Hold” and an average target price of $44.40.

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.