Capital Research Global Investors Sells 1,507,495 Shares of Copart, Inc. $CPRT

Capital Research Global Investors lessened its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 13.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,347,568 shares of the business services provider’s stock after selling 1,507,495 shares during the period. Capital Research Global Investors owned about 0.97% of Copart worth $420,343,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CPRT. Capital International Sarl lifted its position in shares of Copart by 4.0% in the 3rd quarter. Capital International Sarl now owns 458,525 shares of the business services provider’s stock worth $20,620,000 after purchasing an additional 17,696 shares during the period. Capital International Inc. CA increased its holdings in shares of Copart by 13.7% in the third quarter. Capital International Inc. CA now owns 284,752 shares of the business services provider’s stock valued at $12,805,000 after purchasing an additional 34,279 shares during the period. Bank of Montreal Can lifted its stake in Copart by 28.6% during the 3rd quarter. Bank of Montreal Can now owns 1,608,882 shares of the business services provider’s stock valued at $72,351,000 after acquiring an additional 357,650 shares during the period. Legal & General Group Plc boosted its holdings in Copart by 5.1% in the third quarter. Legal & General Group Plc now owns 5,749,271 shares of the business services provider’s stock valued at $258,545,000 after purchasing an additional 276,586 shares during the last quarter. Finally, Banque Cantonale Vaudoise boosted its stake in shares of Copart by 52.9% in the third quarter. Banque Cantonale Vaudoise now owns 16,418 shares of the business services provider’s stock worth $738,000 after buying an additional 5,680 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CPRT has been the topic of a number of research analyst reports. Robert W. Baird set a $48.00 price target on shares of Copart and gave the company an “outperform” rating in a research note on Friday, February 20th. Zacks Research downgraded Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 24th. 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. CJS Securities upgraded Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Copart currently has an average rating of “Hold” and an average target price of $44.40.

Copart Price Performance

NASDAQ:CPRT opened at $36.31 on Wednesday. The firm’s fifty day moving average price is $38.96 and its 200 day moving average price is $41.67. Copart, Inc. has a 1-year low of $33.81 and a 1-year high of $63.85. The firm has a market cap of $34.98 billion, a price-to-earnings ratio of 22.69 and a beta of 1.09.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, February 19th. The business services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.03). The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.15 billion. Copart had a net margin of 33.76% and a return on equity of 16.68%. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.40 earnings per share. As a group, analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of the company’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $40.17, for a total value of $1,009,753.29. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.60% of the company’s stock.

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.