18,785 Shares in Copart, Inc. $CPRT Bought by PCM Encore LLC

PCM Encore LLC purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 18,785 shares of the business services provider’s stock, valued at approximately $530,000.

A number of other large investors have also bought and sold shares of the stock. Quadrant Capital Group LLC grew its holdings in shares of Copart by 1.3% in the third quarter. Quadrant Capital Group LLC now owns 20,693 shares of the business services provider’s stock worth $931,000 after purchasing an additional 264 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Copart by 23.8% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,384 shares of the business services provider’s stock valued at $68,000 after buying an additional 266 shares during the last quarter. Valeo Financial Advisors LLC boosted its position in Copart by 4.6% during the 4th quarter. Valeo Financial Advisors LLC now owns 6,395 shares of the business services provider’s stock valued at $250,000 after buying an additional 282 shares during the period. Parkside Financial Bank & Trust boosted its position in Copart by 11.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,793 shares of the business services provider’s stock valued at $109,000 after buying an additional 288 shares during the period. Finally, American Trust grew its holdings in Copart by 2.1% in the 3rd quarter. American Trust now owns 14,230 shares of the business services provider’s stock worth $640,000 after acquiring an additional 295 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CPRT. Stephens restated an “equal weight” rating and set a $35.00 price target on shares of Copart in a report on Thursday. Jefferies Financial Group set a $45.00 price objective on Copart in a research report on Friday, May 22nd. Freedom Capital raised Copart to a “strong-buy” rating in a research note on Friday, June 26th. Weiss Ratings restated a “sell (d+)” rating on shares of Copart in a report on Wednesday, July 29th. Finally, Zacks Research downgraded Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. Three equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $41.67.

Copart Stock Performance

CPRT stock opened at $34.33 on Friday. The firm has a 50 day moving average price of $29.43 and a 200-day moving average price of $32.70. Copart, Inc. has a 52-week low of $26.81 and a 52-week high of $50.11. The firm has a market capitalization of $31.78 billion, a price-to-earnings ratio of 21.32 and a beta of 1.01.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.02. Copart had a return on equity of 16.63% and a net margin of 33.48%.The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the business posted $0.42 EPS. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total value of $845,945.05. Following the completion of the transaction, the chief executive officer owned 99,641 shares of the company’s stock, valued at $3,038,054.09. The trade was a 21.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.60% of the stock is owned by insiders.

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.