Davidson Kahn Capital Management LLC Grows Position in Copart, Inc. $CPRT

Davidson Kahn Capital Management LLC raised its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 40.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 64,060 shares of the business services provider’s stock after purchasing an additional 18,592 shares during the period. Copart accounts for 1.7% of Davidson Kahn Capital Management LLC’s holdings, making the stock its 20th biggest position. Davidson Kahn Capital Management LLC’s holdings in Copart were worth $3,022,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Tripletail Wealth Management LLC purchased a new position in shares of Copart during the 3rd quarter valued at about $27,000. Ameritas Advisory Services LLC bought a new stake in Copart during the second quarter valued at about $31,000. Creekmur Asset Management LLC raised its stake in Copart by 1,063.0% during the 2nd quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 574 shares during the period. Bank of Jackson Hole Trust lifted its holdings in Copart by 83.8% in the 2nd quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock worth $36,000 after purchasing an additional 335 shares in the last quarter. Finally, GFG Capital LLC bought a new position in Copart in the 2nd quarter worth approximately $37,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Trading Up 0.3%

Shares of CPRT opened at $41.40 on Friday. Copart, Inc. has a twelve month low of $37.41 and a twelve month high of $63.85. The company has a market cap of $40.08 billion, a P/E ratio of 25.24 and a beta of 1.10. The company’s fifty day simple moving average is $39.53 and its 200-day simple moving average is $43.60.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, November 20th. The business services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Copart had a net margin of 34.24% and a return on equity of 17.78%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the previous year, the company earned $0.37 EPS. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. Analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on CPRT. CJS Securities upgraded shares of Copart to a “strong-buy” rating in a research note on Thursday, December 11th. JPMorgan Chase & Co. decreased their target price on Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Monday, November 24th. Barclays reaffirmed an “underweight” rating and issued a $33.00 price objective (up previously from $32.00) on shares of Copart in a research note on Friday, November 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. Finally, Robert W. Baird decreased their price target on shares of Copart from $55.00 to $52.00 and set an “outperform” rating on the stock in a research note on Friday, November 21st. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.60.

Insider Buying and Selling

In related news, Director Thomas N. Tryforos sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $39.07, for a total transaction of $3,907,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey Liaw sold 25,137 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer owned 55,970 shares of the company’s stock, valued at approximately $2,248,314.90. The trade was a 30.99% decrease in their position. The SEC filing for this sale provides additional information. Corporate 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.