Copart, Inc. $CPRT Position Cut by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc reduced its holdings in Copart, Inc. (NASDAQ:CPRT) by 12.6% during the 3rd quarter, Holdings Channel reports. The fund owned 292,621 shares of the business services provider’s stock after selling 42,257 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Copart were worth $13,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Tripletail Wealth Management LLC acquired a new position in shares of Copart during the third quarter valued at $27,000. Atticus Wealth Management LLC bought a new position in Copart in the 2nd quarter valued at about $31,000. Creekmur Asset Management LLC increased its stake in Copart by 1,063.0% during the 2nd quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock valued at $31,000 after buying an additional 574 shares during the period. Ameritas Advisory Services LLC bought a new stake in shares of Copart during the 2nd quarter worth about $31,000. Finally, Bank of Jackson Hole Trust raised its position in shares of Copart by 83.8% during the 2nd quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock worth $36,000 after buying an additional 335 shares in the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Performance

Copart stock opened at $41.04 on Friday. The firm has a market cap of $39.73 billion, a price-to-earnings ratio of 25.02 and a beta of 1.10. Copart, Inc. has a 1 year low of $37.41 and a 1 year high of $63.85. The firm’s 50 day moving average price is $39.55 and its two-hundred day moving average price is $43.88.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, November 20th. The business services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.18 billion. Copart had a return on equity of 17.78% and a net margin of 34.24%.The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.37 EPS. As a group, equities analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on CPRT. CJS Securities upgraded shares of Copart to a “strong-buy” rating in a report on Thursday, December 11th. Barclays restated an “underweight” rating and issued a $33.00 target price (up from $32.00) on shares of Copart in a research report on Friday, November 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Copart in a research report on Wednesday, October 8th. Robert W. Baird dropped their price objective on Copart from $55.00 to $52.00 and set an “outperform” rating on the stock in a research note on Friday, November 21st. Finally, JPMorgan Chase & Co. decreased their target price on Copart from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Monday, November 24th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $47.60.

Insider Buying and Selling at Copart

In related news, CEO Jeffrey Liaw sold 25,137 shares of the stock in a transaction on Thursday, January 15th. The stock was 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 trade represents a 30.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Thomas N. Tryforos sold 100,000 shares of Copart stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total value of $3,907,000.00. The disclosure for this sale is available in the SEC filing. Corporate insiders own 9.60% of the company’s stock.

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.