Copart, Inc. $CPRT Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC boosted its position in Copart, Inc. (NASDAQ:CPRT) by 680.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 431,273 shares of the business services provider’s stock after purchasing an additional 376,033 shares during the period. Intech Investment Management LLC’s holdings in Copart were worth $19,394,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC raised its position in shares of Copart by 92.1% during the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock valued at $816,000 after buying an additional 6,817 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in Copart by 365.8% in the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock valued at $63,000 after purchasing an additional 878 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Copart by 21.3% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 232,556 shares of the business services provider’s stock worth $11,412,000 after purchasing an additional 40,900 shares in the last quarter. Motley Fool Asset Management LLC grew its stake in shares of Copart by 10.5% during the 2nd quarter. Motley Fool Asset Management LLC now owns 49,657 shares of the business services provider’s stock worth $2,437,000 after acquiring an additional 4,717 shares in the last quarter. Finally, Howard Capital Management Inc. increased its holdings in Copart by 17.3% during the second quarter. Howard Capital Management Inc. now owns 23,910 shares of the business services provider’s stock worth $1,173,000 after buying an additional 3,520 shares during the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CPRT shares. Barclays reiterated an “underweight” rating and set a $32.00 price target (down from $33.00) on shares of Copart in a report on Monday. 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. JPMorgan Chase & Co. lowered their price target on shares of Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a report on Monday. Zacks Research cut Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Finally, CJS Securities upgraded shares of Copart to a “strong-buy” rating in a report on Thursday, December 11th. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $44.40.

Copart Stock Performance

NASDAQ:CPRT opened at $35.89 on Thursday. Copart, Inc. has a one year low of $33.81 and a one year high of $63.85. The firm has a 50-day simple moving average of $39.24 and a 200-day simple moving average of $42.33. The firm has a market cap of $34.74 billion, a P/E ratio of 22.43 and a beta of 1.08.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.03). Copart had a return on equity of 16.68% and a net margin of 33.76%.The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the company posted $0.40 EPS. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. On average, research analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Activity

In other Copart 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 transaction of $1,009,753.29. Following the sale, the chief executive officer owned 55,970 shares in the company, valued at approximately $2,248,314.90. This represents a 30.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 9.60% of the stock is owned by corporate insiders.

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.