Brown Brothers Harriman & Co. Sells 16,430 Shares of Copart, Inc. $CPRT

Brown Brothers Harriman & Co. reduced its position in shares of Copart, Inc. (NASDAQ:CPRT) by 4.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 319,329 shares of the business services provider’s stock after selling 16,430 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Copart were worth $14,360,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Allworth Financial LP raised its stake in shares of Copart by 0.8% during the second quarter. Allworth Financial LP now owns 28,978 shares of the business services provider’s stock worth $1,422,000 after buying an additional 228 shares during the last quarter. PDS Planning Inc boosted its stake in Copart by 4.9% in the third quarter. PDS Planning Inc now owns 5,196 shares of the business services provider’s stock valued at $234,000 after acquiring an additional 242 shares during the last quarter. Hollencrest Capital Management boosted its stake in Copart by 13.2% in the third quarter. Hollencrest Capital Management now owns 2,088 shares of the business services provider’s stock valued at $94,000 after acquiring an additional 244 shares during the last quarter. Unique Wealth LLC grew its holdings in Copart by 2.3% during the 3rd quarter. Unique Wealth LLC now owns 10,785 shares of the business services provider’s stock worth $485,000 after acquiring an additional 245 shares during the period. Finally, Howard Capital Management Inc. raised its position in shares of Copart by 1.1% during the 3rd quarter. Howard Capital Management Inc. now owns 24,163 shares of the business services provider’s stock valued at $1,087,000 after acquiring an additional 253 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, CEO Jeffrey Liaw sold 25,137 shares of the company’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 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 $2,248,314.90. This represents a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 9.60% of the company’s stock.

Copart Price Performance

Shares of Copart stock opened at $34.09 on Friday. The company has a market capitalization of $32.84 billion, a P/E ratio of 21.31 and a beta of 1.09. The business has a 50-day moving average of $38.71 and a two-hundred day moving average of $41.48. Copart, Inc. has a 1 year low of $33.53 and a 1 year high of $63.85.

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