TD Waterhouse Canada Inc. Boosts Holdings in Copart, Inc. $CPRT

TD Waterhouse Canada Inc. raised its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 228.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 456,184 shares of the business services provider’s stock after acquiring an additional 317,383 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Copart were worth $13,126,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Premier Path Wealth Partners LLC increased its stake in shares of Copart by 16.9% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 14,238 shares of the business services provider’s stock worth $401,000 after purchasing an additional 2,059 shares in the last quarter. Concurrent Investment Advisors LLC lifted its position in Copart by 7.0% during the second quarter. Concurrent Investment Advisors LLC now owns 12,499 shares of the business services provider’s stock valued at $352,000 after purchasing an additional 823 shares in the last quarter. NEOS Investment Management LLC grew its holdings in Copart by 10.8% during the second quarter. NEOS Investment Management LLC now owns 731,235 shares of the business services provider’s stock valued at $20,614,000 after purchasing an additional 71,094 shares during the period. AXQ Capital LP grew its holdings in Copart by 1,017.7% during the second quarter. AXQ Capital LP now owns 241,865 shares of the business services provider’s stock valued at $6,818,000 after purchasing an additional 220,225 shares during the period. Finally, Nykredit A S purchased a new stake in Copart in the second quarter worth about $5,185,000. Institutional investors own 85.78% of the company’s stock.

Copart Trading Up 0.4%

NASDAQ CPRT opened at $33.72 on Friday. The stock’s 50 day moving average is $30.07 and its 200 day moving average is $32.26. Copart, Inc. has a 12 month low of $26.81 and a 12 month high of $49.16. The stock has a market cap of $31.22 billion, a PE ratio of 20.94, a P/E/G ratio of 2.03 and a beta of 1.03.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Copart in a research note on Wednesday, July 29th. Jefferies Financial Group set a $45.00 target price on shares of Copart in a research note on Friday, May 22nd. Stephens reaffirmed an “equal weight” rating and set a $35.00 price target on shares of Copart in a report on Thursday, August 20th. Freedom Capital upgraded shares of Copart to a “strong-buy” rating in a research report on Friday, June 26th. Finally, Barclays set a $25.00 price target on shares of Copart and gave the stock an “underweight” rating in a research report on Wednesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $38.83.

Insider Activity

In other news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the sale, the chief executive officer owned 99,641 shares in the company, valued at $3,038,054.09. This trade represents a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 9.60% of the stock is currently owned by 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.