Copart, Inc. $CPRT Holdings Cut by Blair William & Co. IL

Blair William & Co. IL lowered its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 6.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,738,566 shares of the business services provider’s stock after selling 343,725 shares during the period. Blair William & Co. IL owned about 0.49% of Copart worth $213,093,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CPRT. Allworth Financial LP raised its stake in shares of Copart by 0.8% during the 2nd quarter. Allworth Financial LP now owns 28,978 shares of the business services provider’s stock worth $1,422,000 after purchasing an additional 228 shares in the last quarter. PDS Planning Inc grew its position in Copart by 4.9% in the third quarter. PDS Planning Inc now owns 5,196 shares of the business services provider’s stock worth $234,000 after acquiring an additional 242 shares in the last quarter. Hollencrest Capital Management raised its holdings in shares of Copart by 13.2% during the 3rd quarter. Hollencrest Capital Management now owns 2,088 shares of the business services provider’s stock valued at $94,000 after purchasing an additional 244 shares in the last quarter. Unique Wealth LLC lifted its position in shares of Copart by 2.3% in the third quarter. Unique Wealth LLC now owns 10,785 shares of the business services provider’s stock worth $485,000 after buying an additional 245 shares during the last quarter. Finally, Tobam lifted its position in shares of Copart by 22.9% during the 2nd quarter. Tobam now owns 1,340 shares of the business services provider’s stock worth $66,000 after purchasing an additional 250 shares during the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of the company’s 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 sale, the chief executive officer directly owned 55,970 shares in the company, valued at $2,248,314.90. This represents a 30.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 9.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Copart Stock Performance

NASDAQ:CPRT opened at $37.72 on Friday. The company has a 50-day moving average of $39.07 and a 200-day moving average of $41.92. Copart, Inc. has a 52 week low of $33.81 and a 52 week high of $63.85. The company has a market capitalization of $36.34 billion, a price-to-earnings ratio of 23.58 and a beta of 1.09.

Copart (NASDAQ:CPRT) last posted its earnings results 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 business had revenue of $1.12 billion during 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 business’s revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.40 EPS. Sell-side analysts forecast that Copart, Inc. will post 1.57 EPS for the current year.

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.