Copart, Inc. $CPRT Position Raised by William Blair Investment Management LLC

William Blair Investment Management LLC boosted its position in Copart, Inc. (NASDAQ:CPRT) by 7.8% in the third quarter, HoldingsChannel.com reports. The firm owned 4,651,474 shares of the business services provider’s stock after purchasing an additional 336,529 shares during the quarter. William Blair Investment Management LLC’s holdings in Copart were worth $209,177,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Rafferty Asset Management LLC raised its position in Copart by 5.8% in the third quarter. Rafferty Asset Management LLC now owns 382,068 shares of the business services provider’s stock worth $17,182,000 after acquiring an additional 20,841 shares in the last quarter. Huntington National Bank lifted its stake in Copart by 31.4% during the third quarter. Huntington National Bank now owns 18,133 shares of the business services provider’s stock valued at $815,000 after purchasing an additional 4,328 shares during the last quarter. Rockbridge Capital Management LLC boosted its holdings in Copart by 3.3% during the third quarter. Rockbridge Capital Management LLC now owns 256,067 shares of the business services provider’s stock worth $11,515,000 after buying an additional 8,248 shares in the last quarter. Andra AP fonden grew its position in Copart by 145.5% in the third quarter. Andra AP fonden now owns 421,100 shares of the business services provider’s stock worth $18,937,000 after buying an additional 249,600 shares during the last quarter. Finally, Diversify Wealth Management LLC increased its holdings in shares of Copart by 5.7% in the third quarter. Diversify Wealth Management LLC now owns 34,520 shares of the business services provider’s stock valued at $1,484,000 after buying an additional 1,852 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. CJS Securities raised Copart to a “strong-buy” rating in a research note on Thursday, December 11th. Barclays reiterated an “underweight” rating and issued a $32.00 price target (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. JPMorgan Chase & Co. cut their price objective on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Robert W. Baird set a $48.00 target price on shares of Copart and gave the stock an “outperform” rating in a report on Friday, February 20th. Finally, Zacks Research downgraded shares of Copart from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 24th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $44.40.

Copart Trading Up 2.5%

Shares of NASDAQ CPRT opened at $38.09 on Friday. Copart, Inc. has a one year low of $33.81 and a one year high of $63.85. The business has a 50-day moving average price of $39.18 and a two-hundred day moving average price of $42.20. The firm has a market capitalization of $36.87 billion, a PE ratio of 23.81 and a beta of 1.08.

Copart (NASDAQ:CPRT) last released its quarterly earnings data on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.15 billion. Copart had a net margin of 33.76% and a return on equity of 16.68%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.40 EPS. Research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Jeffrey Liaw sold 25,137 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total value of $1,009,753.29. Following the transaction, the chief executive officer directly owned 55,970 shares of the company’s stock, valued at approximately $2,248,314.90. This trade represents a 30.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 9.60% of the stock is currently owned by company insiders.

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.