S Bank Fund Management Ltd Makes New Investment in Copart, Inc. (NASDAQ:CPRT)

S Bank Fund Management Ltd bought a new position in Copart, Inc. (NASDAQ:CPRT) during the 1st quarter, Holdings Channel reports. The institutional investor bought 11,054 shares of the business services provider’s stock, valued at approximately $626,000.

Several other institutional investors and hedge funds have also bought and sold shares of CPRT. Nuveen LLC purchased a new position in Copart in the 1st quarter worth approximately $267,723,000. Fiera Capital Corp grew its stake in Copart by 195.6% in the 1st quarter. Fiera Capital Corp now owns 3,992,610 shares of the business services provider’s stock worth $225,942,000 after buying an additional 2,642,100 shares in the last quarter. Vanguard Group Inc. grew its stake in Copart by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider’s stock worth $5,900,295,000 after buying an additional 2,134,890 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Copart by 15.9% in the 1st quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider’s stock worth $868,417,000 after buying an additional 2,106,656 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Copart by 3.3% in the 1st quarter. Principal Financial Group Inc. now owns 39,409,377 shares of the business services provider’s stock worth $2,230,177,000 after buying an additional 1,249,687 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CPRT shares. JPMorgan Chase & Co. cut their price target on shares of Copart from $60.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, May 23rd. Stephens started coverage on shares of Copart in a research note on Tuesday, July 8th. They issued an “equal weight” rating and a $50.00 price target for the company. Finally, Robert W. Baird cut their price target on shares of Copart from $64.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, July 17th.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 24,088 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total transaction of $1,118,405.84. Following the completion of the sale, the chief executive officer owned 31,527 shares of the company’s stock, valued at approximately $1,463,798.61. This represents a 43.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 9.68% of the company’s stock.

Copart Stock Performance

CPRT stock opened at $47.65 on Thursday. The company has a market capitalization of $46.07 billion, a PE ratio of 31.35 and a beta of 1.04. Copart, Inc. has a one year low of $45.05 and a one year high of $64.38. The company’s 50 day moving average price is $47.67 and its two-hundred day moving average price is $54.02.

Copart (NASDAQ:CPRT) last posted its quarterly earnings results on Thursday, May 22nd. The business services provider reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.23 billion. Copart had a net margin of 32.21% and a return on equity of 18.20%. The business’s revenue was up 7.5% compared to the same quarter last year. During the same period last year, the firm posted $0.39 earnings per share. On average, research analysts predict that Copart, Inc. will post 1.57 EPS for the current 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.