Nicola Wealth Management LTD. Makes New $11.47 Million Investment in Copart, Inc. $CPRT

Nicola Wealth Management LTD. bought a new stake in Copart, Inc. (NASDAQ:CPRT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 255,000 shares of the business services provider’s stock, valued at approximately $11,467,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Tripletail Wealth Management LLC bought a new position in Copart in the third quarter worth approximately $27,000. Ameritas Advisory Services LLC purchased a new position in shares of Copart during the second quarter valued at about $31,000. Creekmur Asset Management LLC increased its stake in Copart by 1,063.0% in the 2nd quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock worth $31,000 after acquiring an additional 574 shares during the last quarter. Bank of Jackson Hole Trust boosted its position 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 valued at $36,000 after acquiring an additional 335 shares during the last quarter. Finally, GFG Capital LLC purchased a new position in shares of Copart in the 2nd quarter worth $37,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Transactions at Copart

In other Copart news, Director Thomas N. Tryforos sold 100,000 shares of the stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total transaction of $3,907,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey Liaw sold 25,137 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $40.17, for a total value of $1,009,753.29. Following the completion of the sale, the chief executive officer directly owned 55,970 shares in the company, valued at approximately $2,248,314.90. The trade was a 30.99% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 9.60% of the company’s stock.

Wall Street Analyst Weigh In

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

Copart Stock Performance

Shares of NASDAQ CPRT opened at $41.54 on Tuesday. The firm has a market cap of $40.21 billion, a PE ratio of 25.33 and a beta of 1.10. The firm has a fifty day moving average of $39.54 and a 200 day moving average of $43.50. Copart, Inc. has a one year low of $37.41 and a one year high of $63.85.

Copart (NASDAQ:CPRT) last announced its earnings results 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. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Copart had a net margin of 34.24% and a return on equity of 17.78%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.37 EPS. On average, equities analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

About Copart

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.