Waverly Advisors LLC Boosts Stake in Copart, Inc. $CPRT

Waverly Advisors LLC increased its stake in Copart, Inc. (NASDAQ:CPRT) by 283.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 194,768 shares of the business services provider’s stock after buying an additional 143,925 shares during the period. Waverly Advisors LLC’s holdings in Copart were worth $6,466,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its stake in shares of Copart by 1.3% during the fourth quarter. State Street Corp now owns 37,555,437 shares of the business services provider’s stock valued at $1,470,295,000 after purchasing an additional 492,506 shares in the last quarter. Capital World Investors raised its stake in Copart by 25.1% in the fourth quarter. Capital World Investors now owns 27,728,398 shares of the business services provider’s stock worth $1,085,588,000 after buying an additional 5,555,101 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Copart by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 23,255,161 shares of the business services provider’s stock worth $906,836,000 after buying an additional 131,703 shares during the period. Bank of New York Mellon Corp lifted its holdings in Copart by 21.7% during the fourth quarter. Bank of New York Mellon Corp now owns 21,982,589 shares of the business services provider’s stock worth $860,618,000 after buying an additional 3,918,610 shares during the period. Finally, Norges Bank bought a new stake in Copart during the 4th quarter valued at $569,569,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Copart Trading Up 6.6%

Shares of CPRT stock opened at $29.79 on Tuesday. Copart, Inc. has a 12-month low of $26.81 and a 12-month high of $50.11. The business’s fifty day simple moving average is $30.10 and its 200-day simple moving average is $33.98. The company has a market cap of $27.58 billion, a PE ratio of 18.50 and a beta of 1.02.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.02. Copart had a return on equity of 16.63% and a net margin of 33.48%.The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the firm earned $0.42 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities analysts forecast that Copart, Inc. will post 1.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Zacks Research upgraded Copart from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Jefferies Financial Group set a $45.00 price objective on Copart in a research note on Friday, May 22nd. Barclays set a $26.00 price objective on Copart and gave the company an “underweight” rating in a research report on Tuesday, July 21st. Weiss Ratings downgraded shares of Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Finally, Freedom Capital raised shares of Copart to a “strong-buy” rating in a research report on Friday, June 26th. Three research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.50.

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.