Madison Asset Management LLC Has $159.43 Million Position in Copart, Inc. $CPRT

Madison Asset Management LLC lowered its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 9.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,072,359 shares of the business services provider’s stock after selling 438,237 shares during the quarter. Copart makes up 1.8% of Madison Asset Management LLC’s portfolio, making the stock its 8th biggest holding. Madison Asset Management LLC owned approximately 0.42% of Copart worth $159,433,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its stake in Copart by 92.1% in the 4th quarter. Brighton Jones LLC now owns 14,215 shares of the business services provider’s stock worth $816,000 after purchasing an additional 6,817 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Copart by 365.8% during the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock valued at $63,000 after buying an additional 878 shares during the last quarter. Jump Financial LLC purchased a new position in shares of Copart in the second quarter worth $2,677,000. Sei Investments Co. boosted its position in shares of Copart by 110.0% during the second quarter. Sei Investments Co. now owns 900,330 shares of the business services provider’s stock worth $44,179,000 after acquiring an additional 471,571 shares during the last quarter. Finally, Treasurer of the State of North Carolina grew its stake in Copart by 3.5% during the second quarter. Treasurer of the State of North Carolina now owns 413,083 shares of the business services provider’s stock valued at $20,270,000 after acquiring an additional 13,860 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 26,213 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total transaction of $869,747.34. Following the transaction, the chief executive officer directly owned 79,532 shares in the company, valued at approximately $2,638,871.76. This represents a 24.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.60% of the company’s stock.

Analysts Set New Price Targets

CPRT has been the topic of a number of research reports. Barclays reiterated an “underweight” rating and issued a $32.00 price target (down from $33.00) on shares of Copart in a report on Monday, February 23rd. JPMorgan Chase & Co. reduced their target price on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Weiss Ratings lowered Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Finally, Robert W. Baird set a $48.00 price target on Copart and gave the company an “outperform” rating in a report on Friday, February 20th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $44.40.

Copart Stock Performance

NASDAQ:CPRT opened at $33.44 on Wednesday. The firm has a market capitalization of $32.21 billion, a PE ratio of 20.90 and a beta of 1.02. The stock’s fifty day moving average is $33.96 and its 200 day moving average is $37.75. Copart, Inc. has a fifty-two week low of $32.20 and a fifty-two week high of $63.85.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). Copart had a net margin of 33.76% and a return on equity of 16.68%. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the firm earned $0.40 EPS. The company’s revenue was down 3.6% on a year-over-year basis. Equities analysts forecast that Copart, Inc. will post 1.58 EPS for the current year.

Copart Profile

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.