Nisa Investment Advisors LLC Has $18.85 Million Stake in Copart, Inc. $CPRT

Nisa Investment Advisors LLC lowered its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 6.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 419,096 shares of the business services provider’s stock after selling 26,549 shares during the period. Nisa Investment Advisors LLC’s holdings in Copart were worth $18,847,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Copart by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 106,408,868 shares of the business services provider’s stock worth $5,221,483,000 after purchasing an additional 2,144,946 shares in the last quarter. State Street Corp raised its stake in shares of Copart by 3.3% in the second quarter. State Street Corp now owns 36,406,503 shares of the business services provider’s stock valued at $1,786,467,000 after purchasing an additional 1,167,265 shares in the last quarter. Geode Capital Management LLC lifted its position in Copart by 3.3% in the second quarter. Geode Capital Management LLC now owns 20,462,076 shares of the business services provider’s stock worth $999,305,000 after purchasing an additional 656,333 shares during the period. Norges Bank acquired a new stake in Copart during the second quarter worth $549,448,000. Finally, Invesco Ltd. boosted its stake in Copart by 7.1% during the second quarter. Invesco Ltd. now owns 10,160,298 shares of the business services provider’s stock worth $498,566,000 after buying an additional 670,061 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling at Copart

In other Copart news, Director Thomas N. Tryforos sold 100,000 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total value of $3,907,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey Liaw sold 24,283 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the completion of the transaction, the chief executive officer 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 disclosure for this sale is available in the SEC filing. 9.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CPRT. Weiss Ratings restated a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. Barclays reissued an “underweight” rating and issued a $33.00 price target (up previously from $32.00) on shares of Copart in a research report on Friday, November 21st. CJS Securities raised Copart to a “strong-buy” rating in a report on Thursday, December 11th. JPMorgan Chase & Co. lowered their price objective on Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday, November 24th. Finally, Robert W. Baird dropped their target price on Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a report on Friday, November 21st. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Copart currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.60.

Copart Stock Up 2.0%

Shares of CPRT stock opened at $39.83 on Friday. The company has a market capitalization of $38.56 billion, a P/E ratio of 24.29 and a beta of 1.10. Copart, Inc. has a 12-month low of $37.41 and a 12-month high of $63.85. The firm has a 50-day moving average price of $39.68 and a 200 day moving average price of $44.16.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, November 20th. The business services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.02. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.18 billion. Copart had a net margin of 34.24% and a return on equity of 17.78%. The company’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the business posted $0.37 earnings per share. As a group, research analysts expect that Copart, Inc. will post 1.57 earnings per share for the current year.

Copart Profile

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.