Copart, Inc. $CPRT is Quantum Capital Management LLC NJ’s 4th Largest Position

Quantum Capital Management LLC NJ increased its position in Copart, Inc. (NASDAQ:CPRT) by 18.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,626,405 shares of the business services provider’s stock after purchasing an additional 252,961 shares during the period. Copart accounts for 8.0% of Quantum Capital Management LLC NJ’s portfolio, making the stock its 4th biggest position. Quantum Capital Management LLC NJ owned approximately 0.17% of Copart worth $73,139,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new stake in shares of Copart during the 3rd quarter valued at $25,000. Tripletail Wealth Management LLC bought a new position in shares of Copart in the 3rd quarter worth about $27,000. LRI Investments LLC lifted its position in Copart by 125.2% during the 3rd quarter. LRI Investments LLC now owns 653 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 363 shares during the period. Cornerstone Planning Group LLC lifted its position 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. Finally, E Fund Management Hong Kong Co. Ltd. boosted its stake in Copart by 173.4% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 864 shares of the business services provider’s stock worth $39,000 after acquiring an additional 548 shares in the last quarter. Institutional investors own 85.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CPRT shares. JPMorgan Chase & Co. cut 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. Zacks Research lowered shares of Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 24th. CJS Securities upgraded Copart to a “strong-buy” rating in a research note on Thursday, December 11th. Robert W. Baird set a $48.00 price target on Copart and gave the stock an “outperform” rating in a research note on Friday, February 20th. Finally, Barclays reaffirmed an “underweight” rating and set a $32.00 price objective (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Copart currently has an average rating of “Hold” and a consensus target price of $44.40.

Insiders Place Their Bets

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

Copart Stock Performance

NASDAQ:CPRT opened at $37.72 on Friday. The firm has a market cap of $36.34 billion, a P/E ratio of 23.58 and a beta of 1.09. Copart, Inc. has a fifty-two week low of $33.81 and a fifty-two week high of $63.85. The firm has a 50-day simple moving average of $39.07 and a two-hundred day simple moving average of $41.87.

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