Copart, Inc. $CPRT Shares Acquired by Neuberger Berman Group LLC

Neuberger Berman Group LLC increased its position in shares of Copart, Inc. (NASDAQ:CPRT) by 85.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 152,617 shares of the business services provider’s stock after buying an additional 70,374 shares during the quarter. Neuberger Berman Group LLC’s holdings in Copart were worth $6,863,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Cloud Capital Management LLC purchased a new stake in Copart in the third quarter valued at $25,000. Tripletail Wealth Management LLC purchased a new position in shares of Copart during the 3rd quarter worth $27,000. LRI Investments LLC increased its position in shares of Copart by 125.2% during the 3rd quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock worth $29,000 after purchasing an additional 363 shares during the last quarter. Cornerstone Planning Group LLC raised its holdings in Copart by 54.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 730 shares of the business services provider’s stock valued at $31,000 after buying an additional 256 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. raised its holdings in Copart by 173.4% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 864 shares of the business services provider’s stock valued at $39,000 after buying an additional 548 shares during the period. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Stock Performance

NASDAQ CPRT opened at $37.72 on Friday. The firm has a market cap of $36.34 billion, a price-to-earnings ratio of 23.58 and a beta of 1.09. The firm has a 50 day simple moving average of $39.07 and a 200-day simple moving average of $41.87. Copart, Inc. has a one year low of $33.81 and a one year high of $63.85.

Copart (NASDAQ:CPRT) last announced its earnings results on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). The business had revenue of $1.12 billion for 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 quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.40 earnings per share. Equities analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

Analysts Set New Price Targets

CPRT has been the subject of several research analyst reports. Zacks Research lowered shares of Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 24th. Robert W. Baird set a $48.00 price target on shares of Copart and gave the company an “outperform” rating in a research note on Friday, February 20th. JPMorgan Chase & Co. decreased their price objective on shares of Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Barclays reiterated 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. Finally, CJS Securities upgraded Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $44.40.

Insider Buying and Selling at Copart

In other news, CEO Jeffrey Liaw sold 25,137 shares of the company’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the sale, the chief executive officer owned 55,970 shares of the company’s stock, valued at approximately $2,248,314.90. This represents a 30.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 9.60% of the company’s stock.

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.