Sierra Legacy Group Acquires 8,295 Shares of Copart, Inc. $CPRT

Sierra Legacy Group raised its holdings in Copart, Inc. (NASDAQ:CPRT) by 207.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,295 shares of the business services provider’s stock after acquiring an additional 8,295 shares during the period. Sierra Legacy Group’s holdings in Copart were worth $603,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Nuveen LLC acquired a new stake in Copart during the 1st quarter worth approximately $267,723,000. Fiera Capital Corp lifted its position in Copart by 75.3% in the 2nd quarter. Fiera Capital Corp now owns 7,000,430 shares of the business services provider’s stock valued at $343,511,000 after acquiring an additional 3,007,820 shares in the last quarter. PineStone Asset Management Inc. increased its holdings in 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 purchasing an additional 2,310,067 shares in the last quarter. Amundi raised its stake in shares of Copart by 32.5% in the 1st quarter. Amundi now owns 9,380,026 shares of the business services provider’s stock valued at $531,256,000 after purchasing an additional 2,299,192 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Copart by 2.1% in the second quarter. Vanguard Group Inc. now owns 106,408,868 shares of the business services provider’s stock valued at $5,221,483,000 after purchasing an additional 2,144,946 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CPRT. HSBC set a $62.00 target price on Copart and gave the company a “buy” rating in a research report on Thursday, September 4th. Stephens reduced their target price on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a report on Friday, September 5th. Hsbc Global Res upgraded shares of Copart from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 4th. Weiss Ratings restated a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. Finally, Barclays set a $32.00 price objective on Copart in a report on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Copart presently has a consensus rating of “Hold” and an average target price of $50.00.

Insider Transactions at Copart

In other Copart news, Director Thomas N. Tryforos sold 228,840 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $47.54, for a total value of $10,879,053.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeffrey Liaw sold 24,283 shares of the stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total value of $1,087,635.57. Following the transaction, the chief executive officer owned 31,332 shares in the company, valued at approximately $1,403,360.28. This trade represents a 43.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 9.60% of the stock is currently owned by corporate insiders.

Copart Price Performance

Copart stock opened at $41.32 on Wednesday. Copart, Inc. has a fifty-two week low of $39.58 and a fifty-two week high of $64.38. The firm has a market capitalization of $39.99 billion, a PE ratio of 25.83 and a beta of 1.06. The company’s 50-day moving average is $44.20 and its 200-day moving average is $48.20.

Copart (NASDAQ:CPRT) last announced its quarterly 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. The firm had revenue of $1.13 billion for 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 business’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 earnings per share. As a group, analysts expect that Copart, Inc. will post 1.57 EPS for the current year.

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.