Cibc World Market Inc. Purchases Shares of 39,430 Copart, Inc. $CPRT

Cibc World Market Inc. purchased a new position in Copart, Inc. (NASDAQ:CPRT) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 39,430 shares of the business services provider’s stock, valued at approximately $1,112,000.

A number of other large investors have also modified their holdings of CPRT. Quadrant Capital Group LLC boosted its holdings 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 valued at $931,000 after purchasing an additional 264 shares during the period. Geneos Wealth Management Inc. grew its stake in Copart by 23.8% during the 2nd 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 in the last quarter. Valeo Financial Advisors LLC grew its stake in Copart by 4.6% during the 4th 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. Parkside Financial Bank & Trust increased its holdings in Copart by 11.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,793 shares of the business services provider’s stock worth $109,000 after purchasing an additional 288 shares during the period. Finally, American Trust increased its holdings in Copart by 2.1% during the 3rd quarter. American Trust now owns 14,230 shares of the business services provider’s stock worth $640,000 after purchasing an additional 295 shares during the period. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Stock Performance

CPRT opened at $32.76 on Friday. Copart, Inc. has a one year low of $26.81 and a one year high of $50.11. The company has a market cap of $30.33 billion, a P/E ratio of 20.35 and a beta of 1.01. The business’s 50-day simple moving average is $29.72 and its 200-day simple moving average is $32.47.

Insider Transactions at Copart

In related news, CEO Jeffrey Liaw sold 27,745 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $30.49, for a total value of $845,945.05. Following the completion of the transaction, the chief executive officer directly owned 99,641 shares of the company’s stock, valued at $3,038,054.09. This represents a 21.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 9.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CPRT. Weiss Ratings reiterated a “sell (d+)” rating on shares of Copart in a research note on Wednesday, July 29th. Jefferies Financial Group set a $45.00 target price on shares of Copart in a research note on Friday, May 22nd. Zacks Research downgraded shares of Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Barclays set a $25.00 price objective on shares of Copart and gave the company an “underweight” rating in a research report on Wednesday. Finally, Stephens reaffirmed an “equal weight” rating and set a $35.00 price objective on shares of Copart in a research report on Thursday, August 20th. Three analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Copart presently has an average rating of “Hold” and an average price target of $41.50.

Copart Profile

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.