Seilern Investment Management Ltd Grows Stock Position in Copart, Inc. $CPRT

Seilern Investment Management Ltd raised its position in Copart, Inc. (NASDAQ:CPRT) by 1,428.9% in the 2nd quarter, Holdings Channel reports. The fund owned 1,052,697 shares of the business services provider’s stock after purchasing an additional 983,843 shares during the period. Copart accounts for 3.7% of Seilern Investment Management Ltd’s holdings, making the stock its 15th biggest holding. Seilern Investment Management Ltd’s holdings in Copart were worth $29,676,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CPRT. Reflection Asset Management acquired a new position in shares of Copart during the fourth quarter worth $34,000. Cache Advisors LLC purchased a new position in shares of Copart in the first quarter valued at $31,000. Versant Capital Management Inc grew its holdings in Copart by 110.9% during the 2nd quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 498 shares in the last quarter. Triumph Capital Management grew its holdings in Copart by 424.2% during the 4th quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 823 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in Copart by 365.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock worth $63,000 after buying an additional 878 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Insider Buying and Selling

In other Copart news, CEO Jeffrey Liaw sold 27,745 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the completion of the sale, the chief executive officer owned 99,641 shares in the company, valued at $3,038,054.09. The trade was a 21.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.60% of the stock is currently owned by corporate insiders.

Copart Trading Up 2.2%

Shares of CPRT opened at $29.66 on Friday. The firm has a market cap of $27.46 billion, a price-to-earnings ratio of 18.42 and a beta of 1.01. The stock has a 50 day moving average of $29.42 and a 200-day moving average of $33.37. Copart, Inc. has a 52 week low of $26.81 and a 52 week high of $50.11.

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

Analysts Set New Price Targets

A number of equities analysts have commented on CPRT shares. Barclays set a $26.00 price objective on shares of Copart and gave the stock an “underweight” rating in a report on Tuesday, July 21st. Jefferies Financial Group set a $45.00 target price on Copart in a research report on Friday, May 22nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Copart in a research note on Wednesday, July 29th. Freedom Capital raised Copart to a “strong-buy” rating in a report on Friday, June 26th. Finally, Zacks Research downgraded Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. Three analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price 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.