Sei Investments Co. Buys 155,983 Shares of Copart, Inc. $CPRT

Sei Investments Co. boosted its stake in Copart, Inc. (NASDAQ:CPRT) by 17.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,058,717 shares of the business services provider’s stock after buying an additional 155,983 shares during the quarter. Sei Investments Co. owned approximately 0.11% of Copart worth $35,150,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CPRT. Janney Montgomery Scott LLC boosted its position in Copart by 14.0% in the first quarter. Janney Montgomery Scott LLC now owns 333,624 shares of the business services provider’s stock valued at $11,076,000 after buying an additional 41,060 shares in the last quarter. ABN Amro Investment Solutions increased its holdings in shares of Copart by 82.5% during the fourth quarter. ABN Amro Investment Solutions now owns 199,794 shares of the business services provider’s stock worth $7,822,000 after buying an additional 90,339 shares in the last quarter. Davidson Kahn Capital Management LLC increased its holdings in shares of Copart by 56.3% during the fourth quarter. Davidson Kahn Capital Management LLC now owns 100,151 shares of the business services provider’s stock worth $3,921,000 after buying an additional 36,091 shares in the last quarter. Assetmark Inc. raised its stake in shares of Copart by 7.3% in the fourth quarter. Assetmark Inc. now owns 507,255 shares of the business services provider’s stock valued at $19,859,000 after acquiring an additional 34,410 shares during the last quarter. Finally, Inlet Private Wealth LLC bought a new position in shares of Copart in the fourth quarter valued at approximately $2,637,000. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on CPRT. Freedom Capital upgraded Copart to a “strong-buy” rating in a research report on Friday, June 26th. Jefferies Financial Group set a $45.00 target price on Copart in a report on Friday, May 22nd. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. 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 downgraded shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Three equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.50.

Copart Stock Performance

Shares of CPRT opened at $27.94 on Monday. The firm has a market capitalization of $25.87 billion, a price-to-earnings ratio of 17.35 and a beta of 1.02. The business’s fifty day moving average price is $30.17 and its two-hundred day moving average price is $34.04. Copart, Inc. has a 52 week low of $26.81 and a 52 week high of $50.11.

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