Callan Family Office LLC Grows Stock Holdings in Copart, Inc. $CPRT

Callan Family Office LLC increased its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 281.5% during the second quarter, Holdings Channel reports. The institutional investor owned 23,978 shares of the business services provider’s stock after acquiring an additional 17,692 shares during the period. Callan Family Office LLC’s holdings in Copart were worth $1,177,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CPRT. Nuveen LLC purchased a new stake in Copart during the first quarter worth about $267,723,000. Fiera Capital Corp boosted its holdings in Copart by 195.6% during the first quarter. Fiera Capital Corp now owns 3,992,610 shares of the business services provider’s stock worth $225,942,000 after buying an additional 2,642,100 shares in the last quarter. PineStone Asset Management Inc. boosted its holdings in Copart by 56.4% during the second quarter. PineStone Asset Management Inc. now owns 6,407,471 shares of the business services provider’s stock worth $314,415,000 after buying an additional 2,310,067 shares in the last quarter. Amundi boosted its holdings in Copart by 32.5% during the first 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 in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Copart by 2.1% in the first quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider’s stock valued at $5,900,295,000 after purchasing an additional 2,134,890 shares in the last quarter. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 24,088 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 31,527 shares of the company’s stock, valued at approximately $1,463,798.61. This represents a 43.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Thomas N. Tryforos sold 228,840 shares of the company’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. Corporate insiders own 9.68% of the company’s stock.

Copart Stock Performance

Shares of CPRT opened at $43.88 on Monday. The company has a market capitalization of $42.46 billion, a price-to-earnings ratio of 27.43 and a beta of 1.03. The company’s 50 day simple moving average is $46.80 and its 200 day simple moving average is $51.23. Copart, Inc. has a 1 year low of $43.71 and a 1 year high of $64.38.

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

Analyst Ratings Changes

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