Copart, Inc. $CPRT Stock Position Reduced by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group cut its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 3.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,914 shares of the business services provider’s stock after selling 269 shares during the period. Rehmann Capital Advisory Group’s holdings in Copart were worth $388,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Copart by 2.1% in the first quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider’s stock valued at $5,900,295,000 after acquiring an additional 2,134,890 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Copart by 3.3% in the first quarter. Principal Financial Group Inc. now owns 39,409,377 shares of the business services provider’s stock valued at $2,230,177,000 after acquiring an additional 1,249,687 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Copart by 15.9% in the first quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider’s stock valued at $868,417,000 after acquiring an additional 2,106,656 shares during the last quarter. Invesco Ltd. lifted its stake in Copart by 7.5% in the first quarter. Invesco Ltd. now owns 9,490,237 shares of the business services provider’s stock valued at $537,052,000 after acquiring an additional 658,329 shares during the last quarter. Finally, Amundi lifted its stake in Copart by 32.5% in the first quarter. Amundi now owns 9,380,026 shares of the business services provider’s stock valued at $531,256,000 after acquiring an additional 2,299,192 shares during the last quarter. 85.78% of the stock is currently owned by institutional investors and hedge funds.

Copart Price Performance

NASDAQ:CPRT opened at $44.67 on Friday. Copart, Inc. has a one year low of $43.32 and a one year high of $64.38. The stock has a market cap of $43.23 billion, a P/E ratio of 27.92 and a beta of 1.03. The company has a fifty day moving average price of $46.44 and a 200 day moving average price of $50.60.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. Copart had a net margin of 33.41% and a return on equity of 18.17%. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.14 billion. During the same quarter in the prior year, the company posted $0.33 EPS. The business’s revenue was up 2.9% on a year-over-year basis. As a group, equities research analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Insiders Place Their Bets

In other news, Director Thomas N. Tryforos sold 228,840 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $47.54, for a total value of $10,879,053.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey Liaw sold 24,283 shares of the stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $44.79, for a total transaction of $1,087,635.57. Following the completion of the transaction, the chief executive officer owned 31,332 shares of the company’s stock, valued at approximately $1,403,360.28. This represents a 43.66% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Hsbc Global Res upgraded shares of Copart from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 4th. Stephens reduced their target price on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating for the company in a research note on Friday, September 5th. HSBC set a $62.00 target price on shares of Copart and gave the company a “buy” rating in a research note on Thursday, September 4th. Robert W. Baird lowered their target price on shares of Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a research note on Thursday, July 17th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Copart in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $54.50.

About Copart

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.