QRG Capital Management Inc. Sells 18,813 Shares of Copart, Inc. $CPRT

QRG Capital Management Inc. lowered its holdings in shares of Copart, Inc. (NASDAQ:CPRT) by 15.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 102,978 shares of the business services provider’s stock after selling 18,813 shares during the period. QRG Capital Management Inc.’s holdings in Copart were worth $4,631,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in CPRT. Tripletail Wealth Management LLC bought a new position in Copart in the 3rd quarter worth approximately $27,000. Creekmur Asset Management LLC raised its position in shares of Copart by 1,063.0% during the second quarter. Creekmur Asset Management LLC now owns 628 shares of the business services provider’s stock valued at $31,000 after buying an additional 574 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Copart in the second quarter worth $31,000. Bank of Jackson Hole Trust lifted its holdings in shares of Copart by 83.8% in the second quarter. Bank of Jackson Hole Trust now owns 735 shares of the business services provider’s stock worth $36,000 after buying an additional 335 shares in the last quarter. Finally, GFG Capital LLC bought a new position in shares of Copart during the second quarter worth $37,000. 85.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CPRT has been the topic of a number of research reports. Barclays reiterated an “underweight” rating and issued a $33.00 price target (up from $32.00) on shares of Copart in a report on Friday, November 21st. Robert W. Baird cut their price objective on Copart from $55.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday, November 21st. JPMorgan Chase & Co. reduced their target price on Copart from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Monday, November 24th. CJS Securities upgraded Copart to a “strong-buy” rating in a research report on Thursday, December 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Copart in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Copart currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.60.

Insider Activity at Copart

In other Copart news, Director Thomas N. Tryforos sold 100,000 shares of Copart stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $39.07, for a total transaction of $3,907,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey Liaw sold 25,137 shares of the business’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $40.17, for a total transaction of $1,009,753.29. Following the transaction, the chief executive officer owned 55,970 shares in the company, valued at $2,248,314.90. This trade represents a 30.99% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 9.60% of the company’s stock.

Copart Trading Down 0.5%

Shares of NASDAQ CPRT opened at $41.04 on Monday. The firm’s 50-day moving average price is $39.55 and its 200-day moving average price is $43.81. The stock has a market capitalization of $39.73 billion, a price-to-earnings ratio of 25.02 and a beta of 1.10. Copart, Inc. has a 12-month low of $37.41 and a 12-month high of $63.85.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, November 20th. The business services provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.39 by $0.02. Copart had a return on equity of 17.78% and a net margin of 34.24%.The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the business posted $0.37 earnings per share. The firm’s revenue was up .7% on a year-over-year basis. On average, equities analysts predict that Copart, Inc. will post 1.57 EPS for the current fiscal year.

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.