Hsbc Holdings PLC Buys 361,417 Shares of Copart, Inc. $CPRT

Hsbc Holdings PLC boosted its position in Copart, Inc. (NASDAQ:CPRT) by 12.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,311,002 shares of the business services provider’s stock after purchasing an additional 361,417 shares during the period. Hsbc Holdings PLC’s holdings in Copart were worth $129,585,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CPRT. Quadrant Capital Group LLC increased its position in Copart by 1.3% in the third quarter. Quadrant Capital Group LLC now owns 20,693 shares of the business services provider’s stock worth $931,000 after buying an additional 264 shares during the last quarter. Sierra Legacy Group lifted its holdings in Copart by 1.9% during the fourth quarter. Sierra Legacy Group now owns 13,880 shares of the business services provider’s stock valued at $543,000 after purchasing an additional 265 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in Copart by 23.8% during the second quarter. Geneos Wealth Management Inc. now owns 1,384 shares of the business services provider’s stock worth $68,000 after purchasing an additional 266 shares during the period. Brown Miller Wealth Management LLC boosted its position in Copart by 3.8% during the fourth quarter. Brown Miller Wealth Management LLC now owns 7,310 shares of the business services provider’s stock worth $286,000 after purchasing an additional 268 shares during the period. Finally, Valeo Financial Advisors LLC increased its stake in shares of Copart by 4.6% in the fourth quarter. Valeo Financial Advisors LLC now owns 6,395 shares of the business services provider’s stock worth $250,000 after purchasing an additional 282 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CPRT has been the topic of a number of recent research reports. Jefferies Financial Group set a $45.00 price target on shares of Copart in a research note on Friday, May 22nd. Weiss Ratings lowered shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, May 1st. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Barclays reaffirmed an “underweight” rating and issued a $32.00 price target (down from $33.00) on shares of Copart in a report on Monday, February 23rd. Finally, JPMorgan Chase & Co. reduced their price target on Copart from $45.00 to $34.00 and set a “neutral” rating for the company in a research report on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Copart presently has a consensus rating of “Hold” and an average price target of $44.50.

Copart Price Performance

Shares of CPRT opened at $30.23 on Monday. The firm’s 50 day simple moving average is $32.55 and its 200 day simple moving average is $35.87. The company has a market capitalization of $27.99 billion, a P/E ratio of 18.78 and a beta of 1.01. Copart, Inc. has a 1-year low of $29.46 and a 1-year high of $50.11.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data 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. Copart had a net margin of 33.48% and a return on equity of 16.63%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same period in the previous year, the firm posted $0.42 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. On average, equities analysts anticipate that Copart, Inc. will post 1.58 earnings per share for the current year.

Insiders Place Their Bets

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the sale, the chief executive officer owned 79,532 shares in the company, valued at $2,638,871.76. This trade represents a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.60% of the stock is owned by insiders.

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.