Rockland Trust Co. Has $20.16 Million Stake in Copart, Inc. $CPRT

Rockland Trust Co. raised its holdings in Copart, Inc. (NASDAQ:CPRT) by 17.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 715,262 shares of the business services provider’s stock after purchasing an additional 106,752 shares during the period. Rockland Trust Co. owned approximately 0.08% of Copart worth $20,163,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Reflection Asset Management bought a new stake in shares of Copart during the 4th quarter valued at $34,000. Cache Advisors LLC acquired a new stake in shares of Copart during the 1st quarter worth approximately $31,000. Versant Capital Management Inc increased its stake in Copart by 110.9% in the second quarter. Versant Capital Management Inc now owns 947 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 498 shares during the last quarter. Triumph Capital Management increased its stake in Copart by 424.2% in the fourth quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock valued at $40,000 after acquiring an additional 823 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its position in Copart by 365.8% during the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock valued at $63,000 after purchasing an additional 878 shares in the last quarter. 85.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on CPRT. Freedom Capital raised Copart to a “strong-buy” rating in a report on Friday, June 26th. Jefferies Financial Group set a $45.00 price objective on Copart in a research report on Friday, May 22nd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Copart in a research note on Wednesday, July 29th. Zacks Research downgraded Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 28th. Finally, Barclays set a $26.00 target price on shares of Copart and gave the stock an “underweight” rating in a report on Tuesday, July 21st. Three analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $43.50.

Insider Activity

In other news, CEO Jeffrey Liaw sold 27,745 shares of Copart stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the transaction, the chief executive officer owned 99,641 shares in the company, valued at approximately $3,038,054.09. The trade was a 21.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.60% of the company’s stock.

Copart Price Performance

Copart stock opened at $29.66 on Friday. The business has a 50 day moving average of $29.42 and a 200-day moving average of $33.37. Copart, Inc. has a 1 year low of $26.81 and a 1 year high of $50.11. The company has a market capitalization of $27.46 billion, a P/E ratio of 18.42 and a beta of 1.01.

Copart (NASDAQ:CPRT) last posted its earnings results 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 the consensus estimate of $1.19 billion. During the same period last year, the company earned $0.42 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. Equities analysts anticipate that Copart, Inc. will post 1.58 EPS for the current year.

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.