Quantinno Capital Management LP Boosts Holdings in Copart, Inc. $CPRT

Quantinno Capital Management LP lifted its holdings in Copart, Inc. (NASDAQ:CPRT) by 10.7% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 453,331 shares of the business services provider’s stock after acquiring an additional 43,879 shares during the quarter. Quantinno Capital Management LP’s holdings in Copart were worth $15,051,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CPRT. Cache Advisors LLC purchased a new position in Copart in the 1st quarter worth $31,000. Reflection Asset Management purchased a new stake in Copart during the fourth quarter valued at about $34,000. Triumph Capital Management boosted its position in Copart by 424.2% during the fourth quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock valued at $40,000 after buying an additional 823 shares during the period. SJS Investment Consulting Inc. grew its stake in shares of Copart by 129.2% during the first quarter. SJS Investment Consulting Inc. now owns 1,350 shares of the business services provider’s stock valued at $45,000 after buying an additional 761 shares during the last quarter. Finally, DV Equities LLC bought a new position in shares of Copart during the fourth quarter valued at about $48,000. Hedge funds and other institutional investors own 85.78% of the company’s stock.

Copart Price Performance

Shares of Copart stock opened at $29.12 on Monday. The company has a 50-day moving average of $29.82 and a 200 day moving average of $33.72. The firm has a market cap of $26.96 billion, a price-to-earnings ratio of 18.09 and a beta of 1.02. Copart, Inc. has a 1 year low of $26.81 and a 1 year high of $50.11.

Copart (NASDAQ:CPRT) last posted its quarterly earnings data on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, topping the consensus estimate of $0.41 by $0.02. Copart had a net margin of 33.48% and a return on equity of 16.63%. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the previous year, the firm posted $0.42 earnings per share. Copart’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities analysts anticipate that Copart, Inc. will post 1.58 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Copart in a research note on Wednesday. Jefferies Financial Group set a $45.00 price target on Copart in a research report on Friday, May 22nd. Freedom Capital raised Copart to a “strong-buy” rating in a research note on Friday, June 26th. Barclays set a $26.00 price objective on Copart and gave the company an “underweight” rating in a research report on Tuesday, July 21st. Finally, Zacks Research lowered Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Three analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $43.50.

Insider Activity 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 sale, the chief executive officer owned 99,641 shares in the company, valued at $3,038,054.09. This represents a 21.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 9.60% of the stock is currently owned by corporate insiders.

About Copart

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.