K.J. Harrison & Partners Inc Cuts Holdings in Copart, Inc. $CPRT

K.J. Harrison & Partners Inc lowered its holdings in Copart, Inc. (NASDAQ:CPRT) by 16.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 50,214 shares of the business services provider’s stock after selling 9,986 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Copart were worth $2,464,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. GC Wealth Management RIA LLC acquired a new stake in Copart during the 2nd quarter worth approximately $219,000. China Universal Asset Management Co. Ltd. lifted its position in Copart by 52.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 23,862 shares of the business services provider’s stock worth $1,350,000 after acquiring an additional 8,181 shares during the period. Nordea Investment Management AB lifted its position in Copart by 3.5% during the 2nd quarter. Nordea Investment Management AB now owns 753,973 shares of the business services provider’s stock worth $36,153,000 after acquiring an additional 25,564 shares during the period. Private Trust Co. NA lifted its position in Copart by 16.5% during the 1st quarter. Private Trust Co. NA now owns 4,142 shares of the business services provider’s stock worth $234,000 after acquiring an additional 586 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Copart by 15.9% during the 1st quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider’s stock worth $868,417,000 after acquiring an additional 2,106,656 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Activity at Copart

In other Copart news, CEO Jeffrey Liaw sold 24,283 shares of the firm’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the completion of the transaction, the chief executive officer owned 31,332 shares of the company’s stock, valued at approximately $1,403,360.28. This trade represents a 43.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 value of $10,879,053.60. The SEC filing for this sale provides additional information. Company insiders own 9.68% of the company’s stock.

Wall Street Analyst Weigh In

CPRT has been the subject of a number of recent research reports. HSBC set a $62.00 price objective on Copart and gave the stock a “buy” rating in a research report on Thursday, September 4th. Stephens cut their target price on Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a research note on Friday, September 5th. Hsbc Global Res raised Copart from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 4th. Robert W. Baird cut their target price on Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, July 17th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. One research 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. Based on data from MarketBeat.com, Copart currently has an average rating of “Moderate Buy” and an average price target of $54.50.

Copart Price Performance

NASDAQ CPRT opened at $43.01 on Monday. Copart, Inc. has a 1-year low of $41.96 and a 1-year high of $64.38. The company has a market capitalization of $41.63 billion, a P/E ratio of 26.88 and a beta of 1.03. The business has a 50 day moving average price of $45.93 and a 200 day moving average price of $49.81.

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

Copart 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.