Chicago Partners Investment Group LLC Lowers Stake in Copart, Inc. $CPRT

Chicago Partners Investment Group LLC reduced its position in shares of Copart, Inc. (NASDAQ:CPRT) by 13.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,582 shares of the business services provider’s stock after selling 1,130 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Copart were worth $355,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CPRT. Nuveen LLC purchased a new stake in shares of Copart during the 1st quarter worth about $267,723,000. Fiera Capital Corp boosted 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 worth $225,942,000 after acquiring an additional 2,642,100 shares in the last quarter. PineStone Asset Management Inc. boosted 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 worth $314,415,000 after acquiring an additional 2,310,067 shares in the last quarter. Amundi boosted its stake in shares of Copart by 32.5% during the 1st quarter. Amundi now owns 9,380,026 shares of the business services provider’s stock worth $531,256,000 after acquiring an additional 2,299,192 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Copart by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider’s stock worth $5,900,295,000 after acquiring an additional 2,134,890 shares in the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Price Performance

CPRT opened at $44.67 on Friday. The company’s 50 day simple moving average is $46.44 and its two-hundred day simple moving average is $50.60. Copart, Inc. has a 1-year low of $43.32 and a 1-year high of $64.38. The firm has a market capitalization of $43.23 billion, a price-to-earnings ratio of 27.92 and a beta of 1.03.

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

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 24,283 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total value of $1,087,635.57. Following the transaction, the chief executive officer directly owned 31,332 shares of the company’s stock, valued at $1,403,360.28. This trade represents a 43.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thomas N. Tryforos sold 228,840 shares of the firm’s stock in a transaction that occurred 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. Company insiders own 9.68% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. HSBC set a $62.00 price objective on Copart and gave the stock a “buy” rating in a research note on Thursday, September 4th. Stephens decreased their target price on Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Friday, September 5th. Robert W. Baird decreased their target price on Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, July 17th. Finally, Hsbc Global Res upgraded Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $54.50.

Copart Company Profile

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.