Candriam S.C.A. Purchases 41,356 Shares of Copart, Inc. $CPRT

Candriam S.C.A. boosted its position in Copart, Inc. (NASDAQ:CPRT) by 123.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,833 shares of the business services provider’s stock after buying an additional 41,356 shares during the period. Candriam S.C.A.’s holdings in Copart were worth $2,049,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Confluence Investment Management LLC increased its stake in shares of Copart by 44.2% in the 3rd quarter. Confluence Investment Management LLC now owns 422,532 shares of the business services provider’s stock valued at $11,527,000 after acquiring an additional 129,591 shares in the last quarter. Cohen Capital Management Inc. bought a new position in Copart during the third quarter worth $1,780,000. MassMutual Private Wealth & Trust FSB boosted its stake in Copart by 3,034.7% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 200,557 shares of the business services provider’s stock worth $5,471,000 after acquiring an additional 194,159 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in Copart by 6.4% during the second quarter. Handelsbanken Fonder AB now owns 578,452 shares of the business services provider’s stock worth $16,307,000 after acquiring an additional 34,855 shares in the last quarter. Finally, Caisse de depot et placement du Quebec acquired a new stake in Copart in the second quarter worth $81,534,000. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Trading Down 0.4%

Copart stock opened at $32.17 on Thursday. Copart, Inc. has a 1-year low of $25.72 and a 1-year high of $42.05. The firm has a market capitalization of $29.80 billion, a PE ratio of 20.75, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01. The firm’s 50 day simple moving average is $29.42 and its 200 day simple moving average is $32.09.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, September 10th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.03). The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.14 billion. Copart had a net margin of 31.81% and a return on equity of 15.93%. Copart’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 EPS. Research analysts forecast that Copart, Inc. will post 1.63 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Diane Morefield sold 20,000 shares of Copart stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $27.66, for a total value of $553,200.00. Following the transaction, the director owned 50,000 shares in the company, valued at $1,383,000. This trade represents a 28.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CPRT shares. Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a report on Monday, September 7th. Barrington Research upgraded Copart from a “market perform” rating to an “outperform” rating and set a $40.00 target price for the company in a research note on Friday, September 11th. Robert W. Baird decreased their target price on Copart from $42.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, September 11th. BNP Paribas Exane reaffirmed an “outperform” rating and set a $43.00 price target (up from $40.00) on shares of Copart in a research note on Monday, September 28th. Finally, JPMorgan Chase & Co. raised Copart from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $32.00 to $40.00 in a research note on Thursday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $37.90.

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.