Saturna Capital Corp Has $598,000 Stock Holdings in Copart, Inc. $CPRT

Saturna Capital Corp decreased its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 55.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,262 shares of the business services provider’s stock after selling 18,750 shares during the quarter. Saturna Capital Corp’s holdings in Copart were worth $598,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CPRT. Norges Bank bought a new position in shares of Copart in the fourth quarter valued at $569,569,000. Capital World Investors raised its position in Copart by 25.1% during the fourth quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock worth $1,085,588,000 after acquiring an additional 5,555,101 shares in the last quarter. Capital International Investors bought a new stake in Copart during the fourth quarter worth $195,637,000. Deutsche Bank AG lifted its stake in Copart by 94.0% in the fourth quarter. Deutsche Bank AG now owns 9,955,661 shares of the business services provider’s stock valued at $389,764,000 after acquiring an additional 4,823,111 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Copart by 21.7% in the fourth 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 acquiring an additional 3,918,610 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Performance

Shares of CPRT stock opened at $31.36 on Thursday. Copart, Inc. has a 52 week low of $29.97 and a 52 week high of $50.91. The company has a market capitalization of $29.03 billion, a price-to-earnings ratio of 19.48 and a beta of 1.00. The company has a 50-day simple moving average of $32.94 and a 200 day simple moving average of $36.31.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.02. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Copart had a net margin of 33.48% and a return on equity of 16.63%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 EPS. Sell-side analysts forecast that Copart, Inc. will post 1.58 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Jefferies Financial Group set a $45.00 price objective on shares of Copart in a research note on Friday, May 22nd. Robert W. Baird set a $48.00 target price on shares of Copart and gave the company an “outperform” rating in a research note on Friday, February 20th. Barclays reiterated an “underweight” rating and set a $32.00 price target (down from $33.00) on shares of Copart in a report on Monday, February 23rd. JPMorgan Chase & Co. lowered their price target on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. Finally, Weiss Ratings lowered Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $44.50.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the transaction, the chief executive officer owned 79,532 shares in the company, valued at approximately $2,638,871.76. This trade represents a 24.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company 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.