Yacktman Asset Management LP Buys 24,975 Shares of Copart, Inc. $CPRT

Yacktman Asset Management LP grew its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 33.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 100,170 shares of the business services provider’s stock after acquiring an additional 24,975 shares during the period. Yacktman Asset Management LP’s holdings in Copart were worth $3,922,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Copart by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 108,990,652 shares of the business services provider’s stock worth $4,901,310,000 after acquiring an additional 2,581,784 shares during the period. Principal Financial Group Inc. grew its holdings in Copart by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider’s stock worth $1,806,674,000 after acquiring an additional 1,236,101 shares during the period. State Street Corp grew its holdings in Copart by 1.8% during the 3rd quarter. State Street Corp now owns 37,062,931 shares of the business services provider’s stock worth $1,666,720,000 after acquiring an additional 656,428 shares during the period. Invesco Ltd. grew its holdings in Copart by 7.6% during the 3rd quarter. Invesco Ltd. now owns 10,931,871 shares of the business services provider’s stock worth $491,606,000 after acquiring an additional 771,573 shares during the period. Finally, Northern Trust Corp grew its holdings in Copart by 1.1% during the 3rd quarter. Northern Trust Corp now owns 8,931,216 shares of the business services provider’s stock worth $401,637,000 after acquiring an additional 97,411 shares during the period. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Price Performance

Shares of CPRT opened at $33.94 on Friday. The stock has a 50-day moving average of $34.17 and a 200-day moving average of $38.00. The company has a market cap of $32.69 billion, a PE ratio of 21.21 and a beta of 1.02. Copart, Inc. has a one year low of $32.20 and a one year high of $63.85.

Copart (NASDAQ:CPRT) last issued its 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 firm 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 business’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. Analysts expect that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on CPRT. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. JPMorgan Chase & Co. decreased their price target on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a report on Monday, February 23rd. Barclays reiterated an “underweight” rating and set a $32.00 price target (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Robert W. Baird set a $48.00 price target on Copart and gave the stock an “outperform” rating in a report on Friday, February 20th. Finally, Weiss Ratings downgraded Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $44.40.

Insider Activity at Copart

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 value of $869,747.34. Following the completion of the sale, the chief executive officer directly owned 79,532 shares in the company, valued at $2,638,871.76. This trade represents a 24.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 9.60% of the stock is currently owned by corporate insiders.

Copart Company 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.