Massachusetts Financial Services Co. MA Has $36.39 Million Stock Holdings in Copart, Inc. $CPRT

Massachusetts Financial Services Co. MA lowered its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 80.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 809,128 shares of the business services provider’s stock after selling 3,270,988 shares during the period. Massachusetts Financial Services Co. MA owned about 0.08% of Copart worth $36,386,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Tripletail Wealth Management LLC acquired a new stake in Copart during the third quarter valued at $27,000. Ameritas Advisory Services LLC acquired a new position in Copart in the 2nd quarter worth about $31,000. Creekmur Asset Management LLC raised its stake in shares of Copart by 1,063.0% during the 2nd quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock worth $31,000 after purchasing an additional 574 shares in the last quarter. Bank of Jackson Hole Trust raised its stake in shares of Copart by 83.8% during the 2nd quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock worth $36,000 after purchasing an additional 335 shares in the last quarter. Finally, GFG Capital LLC acquired a new stake in shares of Copart during the 2nd quarter valued at about $37,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Barclays restated an “underweight” rating and issued a $33.00 price objective (up previously from $32.00) on shares of Copart in a report on Friday, November 21st. CJS Securities raised shares of Copart to a “strong-buy” rating in a research report on Thursday, December 11th. JPMorgan Chase & Co. dropped their price target on shares of Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a research note on Monday, November 24th. Robert W. Baird cut their price target on shares of Copart from $55.00 to $52.00 and set an “outperform” rating on the stock in a report on Friday, November 21st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $47.60.

Copart Stock Up 1.5%

Shares of CPRT stock opened at $41.31 on Thursday. Copart, Inc. has a 12 month low of $37.41 and a 12 month high of $63.85. The company has a market cap of $39.99 billion, a PE ratio of 25.19 and a beta of 1.10. The business’s 50 day moving average is $39.53 and its two-hundred day moving average is $43.67.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data 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. Copart had a net margin of 34.24% and a return on equity of 17.78%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same period in the prior year, the firm earned $0.37 EPS. Copart’s quarterly revenue was up .7% compared to the same quarter last year. As a group, equities analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Insider Transactions at Copart

In related news, CEO Jeffrey Liaw sold 25,137 shares of the business’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 completion of the transaction, the chief executive officer 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas N. Tryforos sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total value of $3,907,000.00. Additional details regarding this sale are available in the official SEC disclosure. 9.60% of the stock is 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.