Commerce Bank Takes Position in Copart, Inc. $CPRT

Commerce Bank bought a new stake in Copart, Inc. (NASDAQ:CPRT) in the second quarter, HoldingsChannel.com reports. The fund bought 51,282 shares of the business services provider’s stock, valued at approximately $1,446,000.

Several other large investors also recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Copart during the second quarter valued at $1,908,980,000. State Street Corp grew its stake in shares of Copart by 1.3% in the 4th quarter. State Street Corp now owns 37,555,437 shares of the business services provider’s stock worth $1,470,295,000 after buying an additional 492,506 shares in the last quarter. Capital World Investors increased its holdings in shares of Copart by 25.1% in the 4th quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock worth $1,085,588,000 after buying an additional 5,555,101 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Copart by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 23,255,161 shares of the business services provider’s stock worth $906,836,000 after buying an additional 131,703 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Copart by 21.7% during the 4th quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock valued at $860,618,000 after buying an additional 3,918,610 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Insider Transactions at Copart

In related news, CEO Jeffrey Liaw sold 27,745 shares of the business’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total transaction of $845,945.05. Following the completion of the transaction, the chief executive officer owned 99,641 shares in the company, valued at $3,038,054.09. The trade was a 21.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CPRT has been the topic of several analyst reports. Jefferies Financial Group set a $45.00 price objective on Copart in a research note on Friday, May 22nd. Freedom Capital upgraded Copart to a “strong-buy” rating in a report on Friday, June 26th. Stephens reissued an “equal weight” rating and set a $35.00 target price on shares of Copart in a research report on Thursday, August 20th. Barclays set a $26.00 price target on Copart and gave the company an “underweight” rating in a report on Tuesday, July 21st. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Copart in a research report on Wednesday, July 29th. Three analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $41.67.

Copart Stock Performance

CPRT opened at $33.33 on Wednesday. The stock has a market cap of $30.86 billion, a price-to-earnings ratio of 20.70 and a beta of 1.01. The stock’s 50 day moving average price is $29.61 and its 200-day moving average price is $32.57. Copart, Inc. has a one year low of $26.81 and a one year high of $50.11.

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.