Aberdeen Group plc Cuts Stock Holdings in Copart, Inc. $CPRT

Aberdeen Group plc lowered its position in Copart, Inc. (NASDAQ:CPRT) by 5.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 550,563 shares of the business services provider’s stock after selling 33,992 shares during the period. Aberdeen Group plc owned about 0.06% of Copart worth $21,555,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CPRT. PDS Planning Inc lifted its holdings 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 period. Hollencrest Capital Management grew its stake 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 worth $94,000 after purchasing an additional 244 shares during the period. Unique Wealth LLC increased its holdings in shares of Copart by 2.3% in the 3rd quarter. Unique Wealth LLC now owns 10,785 shares of the business services provider’s stock valued at $485,000 after purchasing an additional 245 shares in the last quarter. Howard Capital Management Inc. increased its holdings in shares of Copart by 1.1% in 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 purchasing an additional 253 shares in the last quarter. Finally, Cornerstone Planning Group LLC lifted its stake in shares of Copart by 54.0% in the third quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 256 shares during the period. Institutional investors and hedge funds own 85.78% of the company’s stock.

Analysts Set New Price Targets

CPRT has been the subject of a number of research analyst reports. CJS Securities raised shares of Copart to a “strong-buy” rating in a report on Thursday, December 11th. Zacks Research lowered Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 24th. Robert W. Baird set a $48.00 price target on Copart and gave the stock an “outperform” rating in a report on Friday, February 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Copart in a research note on Monday, March 23rd. Finally, Barclays reaffirmed an “underweight” rating and set a $32.00 price objective (down from $33.00) on shares of Copart 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, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Copart presently has an average rating of “Hold” and a consensus target price of $44.40.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of the firm’s 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 9.60% of the company’s stock.

Copart Stock Performance

NASDAQ:CPRT opened at $33.40 on Monday. The firm has a 50-day moving average price of $36.60 and a two-hundred day moving average price of $39.77. Copart, Inc. has a twelve month low of $32.20 and a twelve month high of $63.85. The company has a market capitalization of $32.17 billion, a P/E ratio of 20.88 and a beta of 1.14.

Copart (NASDAQ:CPRT) last announced its quarterly 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). Copart had a net margin of 33.76% and a return on equity of 16.68%. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the company earned $0.40 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, equities research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current year.

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.