OMERS ADMINISTRATION Corp Takes Position in Copart, Inc. $CPRT

OMERS ADMINISTRATION Corp purchased a new position in Copart, Inc. (NASDAQ:CPRT) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 50,991 shares of the business services provider’s stock, valued at approximately $1,437,000.

A number of other institutional investors have also made changes to their positions in the stock. Reflection Asset Management bought a new stake in shares of Copart in the 4th quarter valued at about $34,000. C M Bidwell & Associates Ltd. bought a new position in Copart during the 2nd quarter worth approximately $25,000. Cache Advisors LLC acquired a new position in Copart during the first quarter valued at approximately $31,000. Versant Capital Management Inc increased its stake in Copart by 110.9% in the second quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 498 shares in the last quarter. Finally, Triumph Capital Management increased its stake in Copart by 424.2% in the fourth quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 823 shares in the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 27,745 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total transaction of $845,945.05. Following the completion of the transaction, the chief executive officer directly owned 99,641 shares of the company’s stock, valued at $3,038,054.09. This represents 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 company insiders.

Copart Trading Down 2.0%

Shares of NASDAQ CPRT opened at $32.67 on Thursday. The company has a fifty day moving average price of $29.67 and a 200 day moving average price of $32.52. The firm has a market cap of $30.25 billion, a PE ratio of 20.29 and a beta of 1.01. Copart, Inc. has a 1-year low of $26.81 and a 1-year high of $50.11.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CPRT shares. Freedom Capital raised shares of Copart to a “strong-buy” rating in a report on Friday, June 26th. Stephens reaffirmed an “equal weight” rating and set a $35.00 price objective on shares of Copart in a research note on Thursday, August 20th. Jefferies Financial Group set a $45.00 target price on Copart in a report on Friday, May 22nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Copart in a research note on Wednesday, July 29th. Finally, Barclays set a $25.00 price target on Copart and gave the stock an “underweight” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $41.50.

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.