National Pension Service Buys 201,371 Shares of Copart, Inc. $CPRT

National Pension Service grew its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 16.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,427,163 shares of the business services provider’s stock after acquiring an additional 201,371 shares during the quarter. National Pension Service owned about 0.15% of Copart worth $55,873,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CPRT. Mirae Asset Global Investments Co. Ltd. increased its holdings in Copart by 13.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 371,603 shares of the business services provider’s stock worth $16,711,000 after buying an additional 45,346 shares in the last quarter. Nordea Investment Management AB increased its holdings in Copart by 4.1% in the 4th quarter. Nordea Investment Management AB now owns 798,087 shares of the business services provider’s stock worth $31,353,000 after buying an additional 31,658 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Copart by 3.2% in 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 buying an additional 1,236,101 shares in the last quarter. Yacktman Asset Management LP bought a new stake in Copart in the 3rd quarter worth about $3,382,000. Finally, Comgest Global Investors S.A.S. increased its holdings in Copart by 7.2% in the 3rd quarter. Comgest Global Investors S.A.S. now owns 3,181,919 shares of the business services provider’s stock worth $143,091,000 after buying an additional 212,520 shares in the last quarter. 85.78% of the stock is currently owned by institutional investors.

Insider Activity

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction 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. The trade was a 24.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.60% of the stock is currently owned by corporate insiders.

Copart Stock Down 1.5%

Copart stock opened at $32.77 on Friday. The business has a 50-day simple moving average of $33.22 and a two-hundred day simple moving average of $36.91. The company has a market cap of $31.57 billion, a P/E ratio of 20.35 and a beta of 1.02. Copart, Inc. has a 52-week low of $32.20 and a 52-week high of $52.23.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.19 billion. Copart had a return on equity of 16.63% and a net margin of 33.48%.The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 EPS. Research analysts anticipate that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Weiss Ratings downgraded Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. JPMorgan Chase & Co. reduced their price objective 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 issued a $32.00 price objective (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 report on Friday, February 20th. Finally, Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $44.50.

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.