Bessemer Group Inc. Has $173.80 Million Position in Copart, Inc. $CPRT

Bessemer Group Inc. boosted its position in Copart, Inc. (NASDAQ:CPRT) by 26.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,541,866 shares of the business services provider’s stock after purchasing an additional 729,849 shares during the quarter. Bessemer Group Inc. owned about 0.37% of Copart worth $173,798,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Western Wealth Management LLC boosted its stake in Copart by 4.0% in the 1st quarter. Western Wealth Management LLC now owns 4,985 shares of the business services provider’s stock valued at $282,000 after purchasing an additional 192 shares during the period. FSM Wealth Advisors LLC boosted its stake in Copart by 4.9% in the 1st quarter. FSM Wealth Advisors LLC now owns 4,649 shares of the business services provider’s stock valued at $263,000 after purchasing an additional 218 shares during the period. Stephens Inc. AR boosted its stake in Copart by 0.7% in the 2nd quarter. Stephens Inc. AR now owns 30,312 shares of the business services provider’s stock valued at $1,487,000 after purchasing an additional 218 shares during the period. Transcend Capital Advisors LLC boosted its stake in Copart by 1.6% in the 1st quarter. Transcend Capital Advisors LLC now owns 13,941 shares of the business services provider’s stock valued at $789,000 after purchasing an additional 220 shares during the period. Finally, Gamco Investors INC. ET AL boosted its stake in Copart by 1.8% in the 1st quarter. Gamco Investors INC. ET AL now owns 12,590 shares of the business services provider’s stock valued at $712,000 after purchasing an additional 220 shares during the period. 85.78% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Thomas N. Tryforos sold 228,840 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $47.54, for a total transaction of $10,879,053.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey Liaw sold 24,283 shares of the business’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total value of $1,087,635.57. Following the transaction, the chief executive officer directly owned 31,332 shares of the company’s stock, valued at $1,403,360.28. This trade represents a 43.66% decrease in their position. The disclosure for this sale can be found here. 9.68% of the stock is currently owned by insiders.

Copart Stock Performance

Copart stock opened at $44.66 on Monday. Copart, Inc. has a 52 week low of $43.32 and a 52 week high of $64.38. The stock has a market capitalization of $43.22 billion, a P/E ratio of 27.91 and a beta of 1.03. The stock has a fifty day moving average of $46.39 and a 200-day moving average of $50.44.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. Copart had a return on equity of 18.17% and a net margin of 33.41%.The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the previous year, the firm earned $0.33 EPS. Copart’s revenue was up 2.9% on a year-over-year basis. On average, research analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CPRT shares. Hsbc Global Res upgraded Copart from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Copart in a report on Friday. Stephens dropped their price objective on Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a report on Friday, September 5th. HSBC set a $62.00 price objective on Copart and gave the company a “buy” rating in a report on Thursday, September 4th. Finally, Robert W. Baird dropped their price objective on Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.50.

Copart Company Profile

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.