OFI Invest Asset Management Sells 52,170 Shares of Copart, Inc. $CPRT

OFI Invest Asset Management cut its holdings in Copart, Inc. (NASDAQ:CPRT) by 96.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,822 shares of the business services provider’s stock after selling 52,170 shares during the period. OFI Invest Asset Management’s holdings in Copart were worth $89,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CPRT. Lawson Kroeker Investment Management Inc. NE lifted its holdings in shares of Copart by 0.9% in the second quarter. Lawson Kroeker Investment Management Inc. NE now owns 271,837 shares of the business services provider’s stock worth $13,339,000 after buying an additional 2,422 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in Copart by 7.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 119,525 shares of the business services provider’s stock valued at $5,865,000 after acquiring an additional 8,002 shares during the last quarter. Aberdeen Group plc lifted its stake in Copart by 2.9% in the 2nd quarter. Aberdeen Group plc now owns 511,873 shares of the business services provider’s stock worth $25,118,000 after purchasing an additional 14,413 shares in the last quarter. Blue Zone Wealth Advisors LLC lifted its stake in Copart by 4.5% in the 2nd quarter. Blue Zone Wealth Advisors LLC now owns 123,154 shares of the business services provider’s stock worth $6,043,000 after purchasing an additional 5,310 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Copart by 15.4% during the 2nd quarter. Blue Trust Inc. now owns 1,742 shares of the business services provider’s stock valued at $85,000 after purchasing an additional 232 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Hsbc Global Res upgraded Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. HSBC set a $62.00 target price on Copart and gave the stock a “buy” rating in a research report on Thursday, September 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Copart in a research report on Wednesday, October 8th. Robert W. Baird decreased their target price on Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, July 17th. Finally, Stephens decreased their target price on Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Copart presently has a consensus rating of “Moderate Buy” and an average target price of $54.50.

Insiders Place Their Bets

In other Copart news, Director Thomas N. Tryforos sold 228,840 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $47.54, for a total transaction of $10,879,053.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 9.68% of the stock is owned by insiders.

Copart Price Performance

Shares of NASDAQ CPRT opened at $44.07 on Tuesday. The business’s 50 day moving average is $46.77 and its two-hundred day moving average is $51.15. Copart, Inc. has a 1-year low of $43.71 and a 1-year high of $64.38. The stock has a market capitalization of $42.65 billion, a P/E ratio of 27.54 and a beta of 1.03.

Copart (NASDAQ:CPRT) last issued its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, topping 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 company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the previous year, the firm posted $0.33 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, equities research analysts anticipate 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.