Seilern Investment Management Ltd Takes Position in Copart, Inc. $CPRT

Seilern Investment Management Ltd bought a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 137,814 shares of the business services provider’s stock, valued at approximately $5,395,000. Copart makes up approximately 0.4% of Seilern Investment Management Ltd’s portfolio, making the stock its 23rd largest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new position in shares of Copart during the 3rd quarter valued at about $25,000. Tripletail Wealth Management LLC bought a new stake in Copart during the 3rd quarter worth approximately $27,000. LRI Investments LLC increased its stake in Copart by 125.2% during the 3rd quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock worth $29,000 after purchasing an additional 363 shares in the last quarter. Cornerstone Planning Group LLC raised its holdings in Copart by 54.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock worth $31,000 after buying an additional 256 shares during the period. Finally, FNY Investment Advisers LLC acquired a new position in shares of Copart in the third quarter valued at approximately $36,000. 85.78% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Transactions at Copart

In related news, CEO Jeffrey Liaw sold 25,137 shares of the company’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the sale, the chief executive officer owned 55,970 shares in the company, valued at approximately $2,248,314.90. This represents a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 9.60% of the company’s stock.

Copart Trading Up 1.6%

Shares of CPRT stock opened at $33.39 on Tuesday. Copart, Inc. has a 1 year low of $32.20 and a 1 year high of $63.85. The firm’s fifty day moving average price is $38.02 and its two-hundred day moving average price is $40.72. The firm has a market capitalization of $32.16 billion, a P/E ratio of 20.87 and a beta of 1.09.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, February 19th. The business services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.03). The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.15 billion. Copart had a return on equity of 16.68% and a net margin of 33.76%.The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period last year, the firm earned $0.40 earnings per share. As a group, equities research analysts forecast that Copart, Inc. will post 1.57 EPS for the current fiscal 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.