Copart, Inc. $CPRT Shares Purchased by TD Asset Management Inc

TD Asset Management Inc raised its holdings in Copart, Inc. (NASDAQ:CPRT) by 18.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,220,413 shares of the business services provider’s stock after acquiring an additional 647,187 shares during the quarter. TD Asset Management Inc owned 0.44% of Copart worth $189,792,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Copart by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 108,990,652 shares of the business services provider’s stock worth $4,901,310,000 after purchasing an additional 2,581,784 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Copart by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider’s stock valued at $1,806,674,000 after acquiring an additional 1,236,101 shares during the last quarter. State Street Corp boosted its stake in shares of Copart by 3.3% during 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 in the last quarter. Geode Capital Management LLC grew its holdings in shares of Copart by 3.3% in the 2nd quarter. Geode Capital Management LLC now owns 20,462,076 shares of the business services provider’s stock worth $999,305,000 after acquiring an additional 656,333 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Copart during the second quarter worth $549,448,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of the firm’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 completion of the sale, the chief executive officer directly owned 55,970 shares of the company’s stock, valued at $2,248,314.90. This trade represents a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 9.60% of the company’s stock.

Wall Street Analyst Weigh In

CPRT has been the subject of a number of recent analyst reports. CJS Securities upgraded Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Barclays reissued an “underweight” rating and issued a $32.00 target price (down from $33.00) on shares of Copart in a research report on Monday. JPMorgan Chase & Co. decreased their price objective on shares of Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Robert W. Baird set a $48.00 price objective on shares of Copart and gave the stock an “outperform” rating in a research report on Friday, February 20th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $44.40.

Copart Stock Performance

NASDAQ CPRT opened at $35.89 on Thursday. The company has a market capitalization of $34.74 billion, a PE ratio of 22.43 and a beta of 1.08. Copart, Inc. has a 52-week low of $33.81 and a 52-week high of $63.85. The company has a 50-day simple moving average of $39.24 and a 200 day simple moving average of $42.33.

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

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.