Intech Investment Management LLC Reduces Holdings in Copart, Inc. $CPRT

Intech Investment Management LLC cut its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 79.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 88,487 shares of the business services provider’s stock after selling 342,786 shares during the quarter. Intech Investment Management LLC’s holdings in Copart were worth $3,464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Lodestone Wealth Management LLC purchased a new stake in Copart during the 4th quarter valued at about $25,000. Cornerstone Planning Group LLC boosted its holdings in Copart by 54.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock valued at $31,000 after acquiring an additional 256 shares during the period. FNY Investment Advisers LLC purchased a new stake in Copart during the 3rd quarter valued at about $36,000. Aventura Private Wealth LLC purchased a new stake in Copart during the 4th quarter valued at about $33,000. Finally, Board of the Pension Protection Fund bought a new position in Copart during the 4th quarter valued at approximately $35,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $32.32 on Tuesday. Copart, Inc. has a 52-week low of $31.95 and a 52-week high of $51.40. The firm has a market capitalization of $31.13 billion, a P/E ratio of 20.07 and a beta of 1.02. The stock has a 50 day moving average price of $33.22 and a 200-day moving average price of $36.82.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.02. Copart had a return on equity of 16.63% and a net margin of 33.48%.The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the company earned $0.42 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities analysts forecast that Copart, Inc. will post 1.58 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jeffrey Liaw sold 26,213 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the completion of the transaction, the chief executive officer owned 79,532 shares of the company’s stock, valued at $2,638,871.76. This trade represents a 24.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have commented on the company. Jefferies Financial Group set a $45.00 price target on Copart in a research report on Friday, May 22nd. Robert W. Baird set a $48.00 price target on Copart and gave the company an “outperform” rating in a research report on Friday, February 20th. Barclays reaffirmed an “underweight” rating and set a $32.00 price target (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Zacks Research raised Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Finally, JPMorgan Chase & Co. lowered their price target on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, February 23rd. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $44.50.

Copart Company 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.