Mcdonald Capital Investors Inc. CA increased its stake in shares of Copart, Inc. (NASDAQ:CPRT – Free Report) by 15.1% in the first quarter, Holdings Channel.com reports. The firm owned 1,708,574 shares of the business services provider’s stock after buying an additional 224,775 shares during the quarter. Copart comprises approximately 3.9% of Mcdonald Capital Investors Inc. CA’s investment portfolio, making the stock its 12th biggest position. Mcdonald Capital Investors Inc. CA’s holdings in Copart were worth $56,725,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. Nordea Investment Management AB raised its holdings in Copart by 4.1% during the 4th quarter. Nordea Investment Management AB now owns 798,087 shares of the business services provider’s stock worth $31,353,000 after purchasing an additional 31,658 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Copart by 14.0% during the first quarter. Janney Montgomery Scott LLC now owns 333,624 shares of the business services provider’s stock valued at $11,076,000 after purchasing an additional 41,060 shares during the period. ABN Amro Investment Solutions boosted its holdings in Copart by 82.5% in the fourth quarter. ABN Amro Investment Solutions now owns 199,794 shares of the business services provider’s stock worth $7,822,000 after acquiring an additional 90,339 shares in the last quarter. Gotham Asset Management LLC lifted its holdings in shares of Copart by 193.6% in the 3rd quarter. Gotham Asset Management LLC now owns 944,876 shares of the business services provider’s stock worth $42,491,000 after purchasing an additional 623,012 shares in the last quarter. Finally, Davidson Kahn Capital Management LLC lifted its stake in shares of Copart by 56.3% in the fourth quarter. Davidson Kahn Capital Management LLC now owns 100,151 shares of the business services provider’s stock valued at $3,921,000 after buying an additional 36,091 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on CPRT shares. Freedom Capital raised Copart to a “strong-buy” rating in a research report on Friday, June 26th. Zacks Research raised shares of Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Jefferies Financial Group set a $45.00 price objective on Copart in a report on Friday, May 22nd. Finally, Weiss Ratings cut shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Three research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $44.50.
Copart Stock Performance
NASDAQ CPRT opened at $27.44 on Tuesday. The company has a fifty day moving average of $31.20 and a 200-day moving average of $34.77. Copart, Inc. has a 52-week low of $27.29 and a 52-week high of $50.11. The company has a market capitalization of $25.40 billion, a P/E ratio of 17.04 and a beta of 1.02.
Copart (NASDAQ:CPRT – Get Free Report) last announced its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. Copart had a return on equity of 16.63% and a net margin of 33.48%.The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the company earned $0.42 EPS. The company’s revenue was up 2.1% on a year-over-year basis. As a group, analysts forecast that Copart, Inc. will post 1.58 EPS for the current fiscal year.
Insider Activity
In other news, CEO Jeffrey Liaw sold 26,213 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the transaction, the chief executive officer directly owned 79,532 shares of the company’s stock, valued at approximately $2,638,871.76. This trade represents a 24.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 9.60% of the company’s stock.
About Copart
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.
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