ICICI Prudential Asset Management Co Ltd Grows Stock Holdings in Copart, Inc. $CPRT

ICICI Prudential Asset Management Co Ltd increased its stake in Copart, Inc. (NASDAQ:CPRT) by 76.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 110,935 shares of the business services provider’s stock after purchasing an additional 48,086 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in Copart were worth $4,343,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Lodestone Wealth Management LLC purchased a new stake in Copart during the fourth quarter valued at $25,000. FNY Investment Advisers LLC bought a new stake in shares of Copart during the 3rd quarter valued at about $36,000. Aventura Private Wealth LLC purchased a new stake in shares of Copart during the 4th quarter valued at about $33,000. Board of the Pension Protection Fund bought a new position in shares of Copart in the 4th quarter worth approximately $35,000. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Copart by 365.8% in the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock worth $63,000 after buying an additional 878 shares during the last quarter. Institutional investors own 85.78% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CPRT. Weiss Ratings downgraded shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, May 1st. Robert W. Baird set a $48.00 price objective on shares of Copart and gave the company an “outperform” rating in a research report on Friday, February 20th. Barclays reaffirmed an “underweight” rating and issued a $32.00 target price (down from $33.00) on shares of Copart 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. Finally, JPMorgan Chase & Co. cut their price target on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a report on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $44.50.

Insider Transactions at Copart

In other news, CEO Jeffrey Liaw sold 26,213 shares of Copart stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total transaction of $869,747.34. Following the sale, the chief executive officer owned 79,532 shares in the company, valued at $2,638,871.76. This trade represents a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 9.60% of the stock is currently owned by company insiders.

Copart Stock Performance

Shares of Copart stock opened at $31.06 on Friday. Copart, Inc. has a fifty-two week low of $29.97 and a fifty-two week high of $50.72. The company has a market capitalization of $28.76 billion, a P/E ratio of 19.29 and a beta of 1.00. The company has a fifty day moving average of $32.90 and a 200 day moving average of $36.24.

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

About Copart

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.