Stonehage Fleming Financial Services Holdings Ltd Decreases Holdings in Copart, Inc. $CPRT

Stonehage Fleming Financial Services Holdings Ltd lowered its holdings in Copart, Inc. (NASDAQ:CPRT) by 73.9% during the fourth quarter, HoldingsChannel reports. The fund owned 826,875 shares of the business services provider’s stock after selling 2,340,240 shares during the period. Copart accounts for about 1.0% of Stonehage Fleming Financial Services Holdings Ltd’s investment portfolio, making the stock its 17th biggest holding. Stonehage Fleming Financial Services Holdings Ltd’s holdings in Copart were worth $32,372,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CPRT. Vanguard Group Inc. raised its position in shares of Copart by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 108,990,652 shares of the business services provider’s stock worth $4,901,310,000 after acquiring an additional 2,581,784 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Copart by 3.2% in the third quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider’s stock valued at $1,806,674,000 after purchasing an additional 1,236,101 shares in the last quarter. State Street Corp increased its stake in Copart by 1.8% in the third quarter. State Street Corp now owns 37,062,931 shares of the business services provider’s stock valued at $1,666,720,000 after purchasing an additional 656,428 shares during the last quarter. Norges Bank acquired a new stake in Copart during the second quarter worth approximately $549,448,000. Finally, Invesco Ltd. raised its holdings in Copart by 7.6% during the third quarter. Invesco Ltd. now owns 10,931,871 shares of the business services provider’s stock worth $491,606,000 after purchasing an additional 771,573 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer directly 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 9.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Zacks Research cut shares of Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 24th. Robert W. Baird set a $48.00 price target on shares of Copart and gave the stock an “outperform” rating in a research note on Friday, February 20th. CJS Securities raised shares of Copart to a “strong-buy” rating in a research report on Thursday, December 11th. JPMorgan Chase & Co. decreased their price objective on shares of Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Copart in a report on Monday. Two 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 assigned a Sell rating to the stock. Based on data from MarketBeat, Copart currently has an average rating of “Hold” and a consensus price target of $44.40.

Copart Trading Down 0.2%

Shares of NASDAQ CPRT opened at $33.03 on Friday. The stock has a market cap of $31.82 billion, a P/E ratio of 20.64 and a beta of 1.09. Copart, Inc. has a twelve month low of $32.20 and a twelve month high of $63.85. The stock has a 50 day moving average of $37.57 and a two-hundred day moving average of $40.51.

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 analysts’ consensus estimates of $0.39 by ($0.03). The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Copart had a return on equity of 16.68% and a net margin of 33.76%.The business’s revenue was down 3.6% on a year-over-year basis. During the same quarter last year, the business posted $0.40 earnings per share. As a group, 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.