Copart, Inc. $CPRT Shares Purchased by Rathbones Group PLC

Rathbones Group PLC increased its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 990.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 90,009 shares of the business services provider’s stock after buying an additional 81,758 shares during the period. Rathbones Group PLC’s holdings in Copart were worth $3,524,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Copart by 2.4% in 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 buying an additional 2,581,784 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Copart by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider’s stock worth $1,806,674,000 after buying an additional 1,236,101 shares during the last quarter. State Street Corp boosted its holdings in Copart by 1.8% in the 3rd quarter. State Street Corp now owns 37,062,931 shares of the business services provider’s stock worth $1,666,720,000 after buying an additional 656,428 shares during the last quarter. Invesco Ltd. boosted its holdings in Copart by 7.6% in the 3rd quarter. Invesco Ltd. now owns 10,931,871 shares of the business services provider’s stock worth $491,606,000 after buying an additional 771,573 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Copart by 1.1% in the 3rd quarter. Northern Trust Corp now owns 8,931,216 shares of the business services provider’s stock worth $401,637,000 after buying an additional 97,411 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. CJS Securities upgraded Copart to a “strong-buy” rating in a report on Thursday, December 11th. Robert W. Baird set a $48.00 price objective on Copart and gave the stock an “outperform” rating in a report on Friday, February 20th. Barclays reiterated an “underweight” rating and issued a $32.00 price objective (down from $33.00) on shares of Copart in a report on Monday, February 23rd. JPMorgan Chase & Co. lowered their price objective on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Copart in a report on Monday, March 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $44.40.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 25,137 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 55,970 shares in the company, valued at $2,248,314.90. The trade was a 30.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.60% of the stock is currently owned by corporate insiders.

Copart Price Performance

Shares of Copart stock opened at $33.11 on Wednesday. The stock has a market cap of $31.90 billion, a P/E ratio of 20.69 and a beta of 1.14. The stock’s 50 day simple moving average is $36.28 and its 200-day simple moving average is $39.59. Copart, Inc. has a 1-year low of $32.20 and a 1-year high of $63.85.

Copart (NASDAQ:CPRT) last issued its earnings results 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). The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.15 billion. Copart had a return on equity of 16.68% and a net margin of 33.76%.The company’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 earnings per share. As a group, research analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Copart Company 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.