Strs Ohio Decreases Stock Position in Copart, Inc. $CPRT

Strs Ohio decreased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 14.6% in the third quarter, HoldingsChannel reports. The firm owned 208,457 shares of the business services provider’s stock after selling 35,631 shares during the quarter. Strs Ohio’s holdings in Copart were worth $9,374,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CPRT. Vanguard Group Inc. boosted its stake in Copart by 2.1% during the second quarter. Vanguard Group Inc. now owns 106,408,868 shares of the business services provider’s stock valued at $5,221,483,000 after buying an additional 2,144,946 shares during the last quarter. State Street Corp increased its stake in Copart by 3.3% in the 2nd quarter. State Street Corp now owns 36,406,503 shares of the business services provider’s stock worth $1,786,467,000 after acquiring an additional 1,167,265 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Copart by 3.3% during the 2nd quarter. Geode Capital Management LLC now owns 20,462,076 shares of the business services provider’s stock valued at $999,305,000 after acquiring an additional 656,333 shares during the last quarter. Norges Bank bought a new position in shares of Copart during the 2nd quarter valued at approximately $549,448,000. Finally, Invesco Ltd. grew its holdings in shares of Copart by 7.1% in the second quarter. Invesco Ltd. now owns 10,160,298 shares of the business services provider’s stock valued at $498,566,000 after purchasing an additional 670,061 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

Copart Trading Up 0.3%

Copart stock opened at $41.40 on Monday. Copart, Inc. has a 12-month low of $37.41 and a 12-month high of $63.85. The firm has a 50-day moving average price of $39.53 and a 200-day moving average price of $43.54. The firm has a market capitalization of $40.08 billion, a PE ratio of 25.24 and a beta of 1.10.

Copart (NASDAQ:CPRT) last issued its quarterly earnings results on Thursday, November 20th. The business services provider reported $0.41 EPS for the quarter, beating the consensus estimate of $0.39 by $0.02. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.18 billion. Copart had a net margin of 34.24% and a return on equity of 17.78%. The firm’s revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 EPS. As a group, sell-side analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

CPRT has been the subject of several research reports. CJS Securities upgraded shares of Copart to a “strong-buy” rating in a research report on Thursday, December 11th. JPMorgan Chase & Co. decreased their target price on shares of Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday, November 24th. Barclays reiterated an “underweight” rating and issued a $33.00 price target (up previously from $32.00) on shares of Copart in a research report on Friday, November 21st. Robert W. Baird decreased 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. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.60.

Insider Activity at Copart

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of the company’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total value of $1,009,753.29. Following the transaction, the chief executive officer owned 55,970 shares of the company’s stock, valued at $2,248,314.90. This represents a 30.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Thomas N. Tryforos sold 100,000 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total value of $3,907,000.00. The disclosure for this sale is available in the SEC filing. Corporate insiders own 9.60% of the company’s stock.

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.