Oppenheimer & Co. Inc. Acquires 15,030 Shares of Copart, Inc. $CPRT

Oppenheimer & Co. Inc. grew its holdings in Copart, Inc. (NASDAQ:CPRT) by 13.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 131,054 shares of the business services provider’s stock after purchasing an additional 15,030 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Copart were worth $5,893,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Stephens Inc. AR lifted its position in Copart by 0.7% during the 2nd quarter. Stephens Inc. AR now owns 30,312 shares of the business services provider’s stock worth $1,487,000 after buying an additional 218 shares in the last quarter. Allworth Financial LP increased its position in Copart by 0.8% in the 2nd quarter. Allworth Financial LP now owns 28,978 shares of the business services provider’s stock valued at $1,422,000 after acquiring an additional 228 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Copart by 15.4% in the second quarter. Blue Trust Inc. now owns 1,742 shares of the business services provider’s stock worth $85,000 after acquiring an additional 232 shares during the last quarter. PDS Planning Inc lifted its position in shares of Copart by 4.9% during the third quarter. PDS Planning Inc now owns 5,196 shares of the business services provider’s stock worth $234,000 after purchasing an additional 242 shares in the last quarter. Finally, Hollencrest Capital Management grew its stake in shares of Copart by 13.2% during the third quarter. Hollencrest Capital Management now owns 2,088 shares of the business services provider’s stock valued at $94,000 after purchasing an additional 244 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Copart

In related news, Director Thomas N. Tryforos sold 100,000 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total transaction of $3,907,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jeffrey Liaw sold 25,137 shares of the business’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $40.17, for a total value of $1,009,753.29. Following the completion of the transaction, the chief executive officer directly owned 55,970 shares of the company’s stock, valued at approximately $2,248,314.90. The trade was a 30.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 9.60% of the stock is currently owned by corporate insiders.

Copart Trading Up 0.1%

NASDAQ CPRT opened at $40.35 on Wednesday. Copart, Inc. has a 12 month low of $37.41 and a 12 month high of $63.85. The stock has a 50-day simple moving average of $39.63 and a 200 day simple moving average of $43.01. The company has a market capitalization of $39.06 billion, a PE ratio of 24.60 and a beta of 1.08.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, November 20th. The business services provider reported $0.41 earnings per share (EPS) 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 return on equity of 17.78% and a net margin of 34.24%.The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.37 EPS. As a group, sell-side analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CPRT has been the subject of several research analyst reports. Robert W. Baird dropped their price objective on shares of Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday, November 21st. CJS Securities upgraded Copart to a “strong-buy” rating in a research report on Thursday, December 11th. JPMorgan Chase & Co. cut their price target 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, Barclays reissued an “underweight” rating and set a $33.00 price objective (up from $32.00) on shares of Copart in a report on Friday, November 21st. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Copart currently has an average rating of “Moderate Buy” and an average target price of $47.60.

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.