Victory Capital Management Inc. boosted its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 4.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,949 shares of the business services provider’s stock after purchasing an additional 2,970 shares during the period. Victory Capital Management Inc.’s holdings in Copart were worth $2,335,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the stock. Crossmark Global Holdings Inc. purchased a new position in Copart during the 3rd quarter valued at about $815,000. Penserra Capital Management LLC increased its holdings in Copart by 55.5% during the 3rd quarter. Penserra Capital Management LLC now owns 93,645 shares of the business services provider’s stock valued at $3,218,000 after purchasing an additional 33,440 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new position in Copart during the 3rd quarter valued at about $544,000. Peregrine Capital Management LLC increased its holdings in Copart by 3.5% during the 3rd quarter. Peregrine Capital Management LLC now owns 1,286,898 shares of the business services provider’s stock valued at $44,231,000 after purchasing an additional 43,732 shares during the period. Finally, First Quadrant L P CA increased its holdings in Copart by 57.7% during the 3rd quarter. First Quadrant L P CA now owns 604,237 shares of the business services provider’s stock valued at $20,768,000 after purchasing an additional 221,005 shares during the period. Institutional investors own 78.71% of the company’s stock.
In other Copart news, President Vincent W. Mitz sold 200,000 shares of Copart stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $34.32, for a total transaction of $6,864,000.00. Following the sale, the president now directly owns 47,660 shares of the company’s stock, valued at approximately $1,635,691.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James E. Meeks sold 160,000 shares of Copart stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $34.33, for a total value of $5,492,800.00. Following the sale, the director now directly owns 3,500 shares in the company, valued at $120,155. The disclosure for this sale can be found here. Insiders own 16.40% of the company’s stock.
Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Tuesday, September 19th. The business services provider reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.04. The business had revenue of $378.60 million for the quarter, compared to analysts’ expectations of $355.42 million. Copart had a return on equity of 31.83% and a net margin of 27.23%. The business’s revenue was up 13.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 EPS. equities research analysts anticipate that Copart, Inc. will post 1.41 earnings per share for the current year.
A number of research analysts recently issued reports on the company. CJS Securities restated an “outperform” rating and set a $42.00 price target on shares of Copart in a report on Thursday, October 5th. Wolfe Research assumed coverage on Copart in a report on Tuesday, November 7th. They set a “market perform” rating on the stock. Robert W. Baird boosted their price target on Copart from $33.00 to $37.00 and gave the company an “outperform” rating in a report on Thursday, September 21st. Finally, Zacks Investment Research downgraded Copart from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $37.33.
Copart Company Profile
Copart, Inc (Copart) is a provider of online auctions and vehicle remarketing services in the United States, Canada, the United Kingdom, the United Arab Emirates, Oman, Bahrain, Brazil, Ireland, Spain and India. The Company also provides vehicle remarketing services in Germany. The Company operates through two segments: United States and International.
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