Meeder Advisory Services Inc. Takes Position in Copart, Inc. $CPRT

Meeder Advisory Services Inc. purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the second quarter, Holdings Channel.com reports. The fund purchased 15,845 shares of the business services provider’s stock, valued at approximately $447,000.

Several other institutional investors and hedge funds have also modified their holdings of CPRT. Brighton Jones LLC grew its position in Copart by 92.1% in the fourth quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock valued at $816,000 after acquiring 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 first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock worth $63,000 after acquiring an additional 878 shares during the last quarter. Jump Financial LLC bought a new position in shares of Copart in the second quarter worth about $2,677,000. Sei Investments Co. boosted its stake 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 in the last quarter. Finally, Treasurer of the State of North Carolina boosted its stake 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 in the last quarter. 85.78% of the stock is currently owned by institutional investors.

Copart Trading Up 1.4%

NASDAQ:CPRT opened at $34.33 on Friday. The stock’s 50-day moving average is $29.43 and its 200-day moving average is $32.70. Copart, Inc. has a 1-year low of $26.81 and a 1-year high of $50.11. The stock has a market cap of $31.78 billion, a P/E ratio of 21.32 and a beta of 1.01.

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

Insider Transactions at Copart

In related news, CEO Jeffrey Liaw sold 27,745 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total value of $845,945.05. Following the transaction, the chief executive officer owned 99,641 shares in the company, valued at $3,038,054.09. The trade was a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CPRT. Zacks Research cut shares of Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 28th. Weiss Ratings restated a “sell (d+)” rating on shares of Copart in a research report on Wednesday, July 29th. Barclays set a $26.00 target price on shares of Copart and gave the stock an “underweight” rating in a research note on Tuesday, July 21st. Stephens reiterated an “equal weight” rating and set a $35.00 price target on shares of Copart in a report on Thursday. Finally, Freedom Capital upgraded Copart to a “strong-buy” rating in a research note on Friday, June 26th. Three investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $41.67.

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.