Torray Investment Partners LLC Buys 17,495 Shares of Copart, Inc. $CPRT

Torray Investment Partners LLC increased its stake in shares of Copart, Inc. (NASDAQ:CPRT) by 12.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 159,824 shares of the business services provider’s stock after buying an additional 17,495 shares during the quarter. Torray Investment Partners LLC’s holdings in Copart were worth $6,257,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CPRT. Vanguard Group Inc. grew its stake in shares of Copart by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 108,990,652 shares of the business services provider’s stock worth $4,901,310,000 after acquiring an additional 2,581,784 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Copart by 3.2% during the third quarter. Principal Financial Group Inc. now owns 40,175,058 shares of the business services provider’s stock valued at $1,806,674,000 after purchasing an additional 1,236,101 shares in the last quarter. State Street Corp boosted its holdings in Copart by 1.8% during the third quarter. State Street Corp now owns 37,062,931 shares of the business services provider’s stock worth $1,666,720,000 after purchasing an additional 656,428 shares during the last quarter. Invesco Ltd. grew its position in Copart by 7.6% in the 3rd quarter. Invesco Ltd. now owns 10,931,871 shares of the business services provider’s stock worth $491,606,000 after purchasing an additional 771,573 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Copart by 1.1% in the 3rd quarter. Northern Trust Corp now owns 8,931,216 shares of the business services provider’s stock valued at $401,637,000 after buying an additional 97,411 shares during the last quarter. 85.78% of the stock is owned by hedge funds and other institutional investors.

Copart Price Performance

Shares of NASDAQ CPRT traded down $0.01 during trading on Thursday, reaching $33.67. 373,178 shares of the stock traded hands, compared to its average volume of 9,106,695. Copart, Inc. has a 52-week low of $32.20 and a 52-week high of $63.85. The company has a 50-day moving average of $34.80 and a 200-day moving average of $38.73. The stock has a market capitalization of $32.44 billion, a P/E ratio of 21.05 and a beta of 1.14.

Copart (NASDAQ:CPRT) last announced its quarterly earnings data on Thursday, February 19th. The business services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Copart had a return on equity of 16.68% and a net margin of 33.76%.The company’s revenue was down 3.6% compared to the same quarter last year. During the same period last year, the business posted $0.40 EPS. Analysts expect that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 26,213 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $33.18, for a total transaction of $869,747.34. Following the sale, the chief executive officer owned 79,532 shares in the company, valued at $2,638,871.76. This represents a 24.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 9.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CPRT shares. Barclays restated an “underweight” rating and issued a $32.00 target price (down from $33.00) on shares of Copart in a research note on Monday, February 23rd. Robert W. Baird set a $48.00 price objective on Copart and gave the stock an “outperform” rating in a research report on Friday, February 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Copart in a research report on Monday, March 23rd. Zacks Research cut Copart from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 24th. Finally, JPMorgan Chase & Co. cut their price target on shares of Copart from $45.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $44.40.

Copart Company 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.