Sei Investments Co. Acquires 155,983 Shares of Copart, Inc. $CPRT

Sei Investments Co. boosted its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 17.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,058,717 shares of the business services provider’s stock after acquiring an additional 155,983 shares during the period. Sei Investments Co.’s holdings in Copart were worth $35,150,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new position in Copart in the fourth quarter valued at about $569,569,000. Capital World Investors grew its position in shares of Copart by 25.1% during the 4th quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock worth $1,085,588,000 after buying an additional 5,555,101 shares during the period. Capital International Investors acquired a new position in shares of Copart during the 4th quarter worth about $195,637,000. Deutsche Bank AG increased its stake in shares of Copart by 94.0% in the 4th quarter. Deutsche Bank AG now owns 9,955,661 shares of the business services provider’s stock valued at $389,764,000 after acquiring an additional 4,823,111 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Copart by 21.7% in the 4th quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock valued at $860,618,000 after acquiring an additional 3,918,610 shares during the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CPRT has been the topic of several recent analyst reports. Jefferies Financial Group set a $45.00 price objective on shares of Copart in a research note on Friday, May 22nd. Freedom Capital raised shares of Copart to a “strong-buy” rating in a research note on Friday, June 26th. Weiss Ratings lowered shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Zacks Research raised shares of Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Finally, Barclays set a $26.00 price objective on shares of Copart and gave the company an “underweight” rating in a research report on Tuesday, July 21st. Three investment 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 issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.50.

Copart Stock Performance

CPRT opened at $27.94 on Monday. The stock has a market capitalization of $25.87 billion, a P/E ratio of 17.35 and a beta of 1.02. Copart, Inc. has a 12 month low of $26.81 and a 12 month high of $50.11. The firm’s fifty day simple moving average is $30.17 and its 200 day simple moving average is $34.04.

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