Davidson Kahn Capital Management LLC Acquires 18,592 Shares of Copart, Inc. $CPRT

Davidson Kahn Capital Management LLC increased its holdings in Copart, Inc. (NASDAQ:CPRT) by 40.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,060 shares of the business services provider’s stock after acquiring an additional 18,592 shares during the quarter. Copart comprises approximately 1.7% of Davidson Kahn Capital Management LLC’s portfolio, making the stock its 20th biggest position. Davidson Kahn Capital Management LLC’s holdings in Copart were worth $3,022,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CPRT. Tripletail Wealth Management LLC bought a new stake in shares of Copart during the 3rd quarter valued at about $27,000. Creekmur Asset Management LLC raised its stake in Copart by 1,063.0% in the second quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock worth $31,000 after buying an additional 574 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in Copart in the second quarter worth about $31,000. Bank of Jackson Hole Trust boosted its position in Copart by 83.8% during the 2nd quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 335 shares in the last quarter. Finally, GFG Capital LLC bought a new stake in Copart during the 2nd quarter valued at approximately $37,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Copart

In other news, Director Thomas N. Tryforos sold 100,000 shares of Copart stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total value of $3,907,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey Liaw sold 25,137 shares of the business’s stock in a transaction that occurred 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 $2,248,314.90. The trade was a 30.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 9.60% of the company’s stock.

Copart Price Performance

CPRT opened at $41.40 on Friday. The firm has a market cap of $40.08 billion, a PE ratio of 25.24 and a beta of 1.10. The stock has a 50-day moving average price of $39.53 and a 200-day moving average price of $43.60. Copart, Inc. has a 1 year low of $37.41 and a 1 year high of $63.85.

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 the consensus estimate of $0.39 by $0.02. Copart had a net margin of 34.24% and a return on equity of 17.78%. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the prior year, the firm posted $0.37 EPS. Copart’s revenue for the quarter was up .7% on a year-over-year basis. As a group, sell-side analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Analysts Set New Price Targets

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

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.