Copart, Inc. $CPRT Shares Acquired by Qsemble Capital Management LP

Qsemble Capital Management LP raised its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 193.9% in the 4th quarter, HoldingsChannel reports. The fund owned 129,248 shares of the business services provider’s stock after buying an additional 85,277 shares during the quarter. Qsemble Capital Management LP’s holdings in Copart were worth $5,060,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CPRT. Brighton Jones LLC lifted its holdings in shares of Copart by 92.1% in the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock valued at $816,000 after purchasing an additional 6,817 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Copart by 365.8% in the 1st 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. Jump Financial LLC purchased a new stake in shares of Copart in the 2nd quarter valued at about $2,677,000. Sei Investments Co. lifted its holdings in shares of Copart by 110.0% in the 2nd quarter. Sei Investments Co. now owns 900,330 shares of the business services provider’s stock valued at $44,179,000 after purchasing an additional 471,571 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of Copart by 3.5% in the 2nd quarter. Treasurer of the State of North Carolina now owns 413,083 shares of the business services provider’s stock valued at $20,270,000 after purchasing an additional 13,860 shares during the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CPRT has been the subject of several research reports. Robert W. Baird set a $48.00 target price on Copart and gave the company an “outperform” rating in a report on Friday, February 20th. Weiss Ratings downgraded Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Barclays reissued an “underweight” rating and issued a $32.00 target price (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Finally, JPMorgan Chase & Co. reduced their target price on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a report on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $44.40.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the completion of the sale, the chief executive officer directly owned 79,532 shares of the company’s stock, valued at $2,638,871.76. This represents a 24.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.60% of the stock is currently owned by corporate insiders.

Copart Stock Down 1.1%

CPRT opened at $32.30 on Friday. The business has a 50 day moving average price of $33.63 and a two-hundred day moving average price of $37.55. The company has a market cap of $31.11 billion, a PE ratio of 20.19 and a beta of 1.02. Copart, Inc. has a 52 week low of $32.20 and a 52 week high of $63.85.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, February 19th. The business services provider reported $0.36 EPS 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 analysts’ expectations of $1.15 billion. Copart had a net margin of 33.76% and a return on equity of 16.68%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.40 earnings per share. As a group, sell-side analysts expect that Copart, Inc. will post 1.58 EPS for the current fiscal year.

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.