Shell Asset Management Co. Purchases 10,559 Shares of Copart, Inc. $CPRT

Shell Asset Management Co. grew its position in shares of Copart, Inc. (NASDAQ:CPRT) by 6.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 167,910 shares of the business services provider’s stock after buying an additional 10,559 shares during the period. Shell Asset Management Co.’s holdings in Copart were worth $8,239,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nuveen LLC purchased a new position in shares of Copart in the first quarter worth about $267,723,000. Fiera Capital Corp lifted its stake in shares of Copart by 195.6% during the 1st quarter. Fiera Capital Corp now owns 3,992,610 shares of the business services provider’s stock valued at $225,942,000 after buying an additional 2,642,100 shares in the last quarter. PineStone Asset Management Inc. lifted its stake in shares of Copart by 56.4% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,407,471 shares of the business services provider’s stock valued at $314,415,000 after buying an additional 2,310,067 shares in the last quarter. Amundi boosted its holdings in Copart by 32.5% in the 1st quarter. Amundi now owns 9,380,026 shares of the business services provider’s stock worth $531,256,000 after buying an additional 2,299,192 shares during the period. Finally, Vanguard Group Inc. grew its stake in Copart by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider’s stock valued at $5,900,295,000 after buying an additional 2,134,890 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

Shares of CPRT stock opened at $44.45 on Tuesday. The company has a market capitalization of $43.02 billion, a PE ratio of 27.78 and a beta of 1.03. Copart, Inc. has a 52-week low of $44.12 and a 52-week high of $64.38. The business’s fifty day moving average is $46.93 and its 200 day moving average is $51.54.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.14 billion. Copart had a return on equity of 18.17% and a net margin of 33.41%.The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the company posted $0.33 EPS. On average, sell-side analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Activity at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of Copart stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the completion of the sale, the chief executive officer directly owned 31,527 shares of the company’s stock, valued at approximately $1,463,798.61. The trade was a 43.31% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thomas N. Tryforos sold 228,840 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $47.54, for a total transaction of $10,879,053.60. The disclosure for this sale can be found here. Insiders own 9.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CPRT shares. Weiss Ratings reissued a “hold (c)” rating on shares of Copart in a report on Saturday, September 27th. Robert W. Baird reduced their price target on Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, July 17th. Hsbc Global Res raised Copart from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 4th. Stephens cut their target price on Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a research note on Friday, September 5th. Finally, HSBC set a $62.00 target price on Copart and gave the company a “buy” rating in a report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.50.

About Copart

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.