Bessemer Group Inc. Has $173.80 Million Position in Copart, Inc. $CPRT

Bessemer Group Inc. boosted its position in Copart, Inc. (NASDAQ:CPRT) by 26.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,541,866 shares of the business services provider’s stock after purchasing an additional 729,849 shares during the period. Bessemer Group Inc.’s holdings in Copart were worth $173,798,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Cloud Capital Management LLC bought a new stake in shares of Copart in the 1st quarter valued at about $26,000. Atticus Wealth Management LLC bought a new stake in shares of Copart in the 2nd quarter valued at about $31,000. Ameritas Advisory Services LLC bought a new stake in shares of Copart in the 2nd quarter valued at about $31,000. Accent Capital Management LLC bought a new stake in shares of Copart in the 1st quarter valued at about $36,000. Finally, GFG Capital LLC bought a new stake in shares of Copart in the 2nd quarter valued at about $37,000. Institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling

In other Copart news, Director Thomas N. Tryforos sold 228,840 shares of the firm’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 value of $10,879,053.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey Liaw sold 24,283 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total value of $1,087,635.57. Following the completion of the sale, the chief executive officer directly owned 31,332 shares of the company’s stock, valued at $1,403,360.28. This trade represents a 43.66% decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.68% of the company’s stock.

Copart Stock Performance

Shares of Copart stock opened at $44.66 on Monday. Copart, Inc. has a 52 week low of $43.32 and a 52 week high of $64.38. The stock has a 50 day moving average price of $46.39 and a two-hundred day moving average price of $50.44. The stock has a market capitalization of $43.22 billion, a PE ratio of 27.91 and a beta of 1.03.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.14 billion. During the same quarter last year, the firm posted $0.33 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. Research analysts forecast that Copart, Inc. will post 1.57 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on CPRT shares. Hsbc Global Res upgraded Copart from a “hold” rating to a “strong-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 on the stock in a research report on Friday, September 5th. HSBC set a $62.00 target price on Copart and gave the company a “buy” rating in a research report on Thursday, September 4th. Weiss Ratings restated a “hold (c)” rating on shares of Copart in a research report on Friday. Finally, Robert W. Baird cut 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. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Copart has an average rating of “Moderate Buy” and a consensus target price of $54.50.

About Copart

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.