TD Asset Management Inc Acquires 647,187 Shares of Copart, Inc. $CPRT

TD Asset Management Inc grew its holdings in Copart, Inc. (NASDAQ:CPRT) by 18.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,220,413 shares of the business services provider’s stock after buying an additional 647,187 shares during the quarter. TD Asset Management Inc’s holdings in Copart were worth $189,792,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of CPRT. First Heartland Consultants Inc. lifted its position in shares of Copart by 12.7% during the third quarter. First Heartland Consultants Inc. now owns 9,725 shares of the business services provider’s stock worth $437,000 after acquiring an additional 1,096 shares in the last quarter. Apriem Advisors raised its stake in shares of Copart by 2,528.2% during the 3rd quarter. Apriem Advisors now owns 149,726 shares of the business services provider’s stock valued at $6,733,000 after purchasing an additional 144,029 shares during the period. Mufg Securities Americas Inc. lifted its holdings in Copart by 23.1% during the 3rd quarter. Mufg Securities Americas Inc. now owns 23,989 shares of the business services provider’s stock worth $1,079,000 after purchasing an additional 4,505 shares in the last quarter. AXQ Capital LP bought a new position in Copart in the 3rd quarter worth about $824,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Copart by 32.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 8,584 shares of the business services provider’s stock valued at $386,000 after buying an additional 2,102 shares in the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Up 1.7%

NASDAQ CPRT opened at $35.89 on Thursday. The stock’s 50-day simple moving average is $39.24 and its two-hundred day simple moving average is $42.33. Copart, Inc. has a twelve month low of $33.81 and a twelve month high of $63.85. The company has a market capitalization of $34.74 billion, a price-to-earnings ratio of 22.43 and a beta of 1.08.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, February 19th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Copart had a return on equity of 16.68% and a net margin of 33.76%.Copart’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 earnings per share. On average, equities analysts expect that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 25,137 shares of the stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the transaction, the chief executive officer directly owned 55,970 shares in the company, valued at $2,248,314.90. This trade represents a 30.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on CPRT. 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 restated an “underweight” rating and set a $32.00 price target (down from $33.00) on shares of Copart in a research report on Monday. JPMorgan Chase & Co. dropped their price objective on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday. Finally, CJS Securities upgraded Copart to a “strong-buy” rating in a research note on Thursday, December 11th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Copart presently has a consensus rating of “Moderate Buy” and an average target price of $44.40.

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.