Vinva Investment Management Ltd Invests $1.86 Million in Copart, Inc. $CPRT

Vinva Investment Management Ltd purchased a new position in Copart, Inc. (NASDAQ:CPRT) in the third quarter, HoldingsChannel reports. The fund purchased 41,625 shares of the business services provider’s stock, valued at approximately $1,856,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Copart by 13.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 371,603 shares of the business services provider’s stock valued at $16,711,000 after purchasing an additional 45,346 shares in the last quarter. California Public Employees Retirement System grew its stake in Copart by 89.0% in the second quarter. California Public Employees Retirement System now owns 2,548,275 shares of the business services provider’s stock worth $125,044,000 after purchasing an additional 1,200,035 shares in the last quarter. Principal Financial Group Inc. grew its stake in Copart by 3.2% in the third quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider’s stock worth $1,806,674,000 after purchasing an additional 1,236,101 shares in the last quarter. Yacktman Asset Management LP bought a new stake in Copart in the third quarter valued at about $3,382,000. Finally, Comgest Global Investors S.A.S. increased its holdings in Copart by 7.2% in the third quarter. Comgest Global Investors S.A.S. now owns 3,181,919 shares of the business services provider’s stock valued at $143,091,000 after buying an additional 212,520 shares during the last quarter. 85.78% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Jeffrey Liaw sold 25,137 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $40.17, for a total value 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 trade represents a 30.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 9.60% of the company’s stock.

Copart Stock Down 0.5%

CPRT opened at $37.57 on Tuesday. The company’s 50-day moving average price is $39.03 and its 200 day moving average price is $41.76. Copart, Inc. has a fifty-two week low of $33.81 and a fifty-two week high of $63.85. The firm has a market cap of $36.19 billion, a price-to-earnings ratio of 23.48 and a beta of 1.09.

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on CPRT. JPMorgan Chase & Co. reduced their target price on Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Zacks Research downgraded Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 24th. CJS Securities raised Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Barclays restated an “underweight” rating and set a $32.00 price objective (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. Finally, Robert W. Baird set a $48.00 price objective on shares of Copart and gave the stock an “outperform” rating in a report on Friday, February 20th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Copart has a consensus rating of “Hold” and a consensus price target of $44.40.

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.