485,012 Shares in Copart, Inc. $CPRT Bought by Calamos Advisors LLC

Calamos Advisors LLC bought a new position in shares of Copart, Inc. (NASDAQ:CPRT) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 485,012 shares of the business services provider’s stock, valued at approximately $13,231,000. Calamos Advisors LLC owned about 0.05% of Copart at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in CPRT. Alpha Family Trust boosted its stake in Copart by 3.4% during the first quarter. Alpha Family Trust now owns 11,010 shares of the business services provider’s stock worth $366,000 after buying an additional 360 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in Copart by 1.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 28,547 shares of the business services provider’s stock valued at $805,000 after buying an additional 369 shares in the last quarter. North Dakota State Investment Board increased its stake in shares of Copart by 1.4% in the 3rd quarter. North Dakota State Investment Board now owns 26,664 shares of the business services provider’s stock worth $727,000 after acquiring an additional 370 shares during the last quarter. Salomon & Ludwin LLC increased its stake in shares of Copart by 62.5% in the 3rd quarter. Salomon & Ludwin LLC now owns 1,076 shares of the business services provider’s stock worth $29,000 after acquiring an additional 414 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Copart by 1.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 24,183 shares of the business services provider’s stock worth $660,000 after acquiring an additional 447 shares during the last quarter. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Barclays set a $25.00 price target on Copart and gave the stock an “underweight” rating in a report on Wednesday, August 26th. Zacks Research raised shares of Copart from a “strong sell” rating to a “hold” rating in a report on Monday, September 7th. HSBC cut shares of Copart from a “buy” rating to a “hold” rating and cut their price objective for the stock from $46.00 to $36.00 in a research report on Wednesday, September 16th. Deutsche Bank Aktiengesellschaft set a $40.00 target price on shares of Copart in a research note on Thursday, September 3rd. Finally, JPMorgan Chase & Co. upgraded shares of Copart from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $32.00 to $40.00 in a report on Thursday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.90.

Insider Transactions at Copart

In related news, Director Diane Morefield sold 20,000 shares of the business’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $27.66, for a total value of $553,200.00. Following the sale, the director directly owned 50,000 shares in the company, valued at approximately $1,383,000. The trade was a 28.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.60% of the company’s stock.

Copart Stock Down 1.6%

CPRT stock opened at $31.95 on Friday. Copart, Inc. has a 52-week low of $25.72 and a 52-week high of $42.05. The stock has a market cap of $29.60 billion, a price-to-earnings ratio of 20.61, a price-to-earnings-growth ratio of 1.56 and a beta of 1.01. The business has a fifty day moving average of $29.45 and a two-hundred day moving average of $32.22.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, September 10th. The business services provider reported $0.35 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.03). The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. Copart had a net margin of 31.81% and a return on equity of 15.93%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the company earned $0.41 EPS. As a group, sell-side analysts anticipate that Copart, Inc. will post 1.63 EPS for the current year.

Copart Profile

Copart, Inc operates an online vehicle auction and remarketing business. Its platform connects sellers with buyers of used and damaged vehicles, including cars, trucks, motorcycles and other equipment.

The company serves insurance companies, vehicle dealers, rental and fleet operators, financial institutions and other businesses, as well as individual buyers. Its services include online auctions, vehicle storage, title processing and support with vehicle transportation.

Founded in 1982 by Willis Johnson, Copart has expanded from its origins in the United States to serve customers in multiple countries, including markets in North America, Europe and the Middle East.