Vancity Investment Management Ltd Sells 35,443 Shares of Copart, Inc. $CPRT

Vancity Investment Management Ltd decreased its holdings in Copart, Inc. (NASDAQ:CPRT) by 5.4% in the 4th quarter, HoldingsChannel reports. The firm owned 617,849 shares of the business services provider’s stock after selling 35,443 shares during the quarter. Copart makes up 3.3% of Vancity Investment Management Ltd’s holdings, making the stock its 10th biggest holding. Vancity Investment Management Ltd’s holdings in Copart were worth $24,188,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in CPRT. Nordea Investment Management AB grew its position in shares of Copart by 4.1% during the fourth quarter. Nordea Investment Management AB now owns 798,087 shares of the business services provider’s stock worth $31,353,000 after buying an additional 31,658 shares in the last quarter. Comgest Global Investors S.A.S. increased its stake in shares of Copart by 7.2% during the third quarter. Comgest Global Investors S.A.S. now owns 3,181,919 shares of the business services provider’s stock worth $143,091,000 after buying an additional 212,520 shares during the period. Davidson Kahn Capital Management LLC raised its holdings in Copart by 56.3% in the fourth quarter. Davidson Kahn Capital Management LLC now owns 100,151 shares of the business services provider’s stock valued at $3,921,000 after acquiring an additional 36,091 shares in the last quarter. ABN Amro Investment Solutions raised its holdings in Copart by 82.5% in the fourth quarter. ABN Amro Investment Solutions now owns 199,794 shares of the business services provider’s stock valued at $7,822,000 after acquiring an additional 90,339 shares in the last quarter. Finally, Integrated Wealth Concepts LLC lifted its stake in Copart by 21.0% in the third quarter. Integrated Wealth Concepts LLC now owns 249,396 shares of the business services provider’s stock worth $11,215,000 after acquiring an additional 43,292 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Up 2.4%

Shares of CPRT opened at $30.23 on Friday. The stock has a 50 day moving average price of $32.61 and a 200 day moving average price of $35.94. The company has a market capitalization of $27.99 billion, a price-to-earnings ratio of 18.78 and a beta of 1.00. Copart, Inc. has a 52-week low of $29.46 and a 52-week high of $50.11.

Copart (NASDAQ:CPRT) last announced its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, beating 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 company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the firm posted $0.42 earnings per share. The firm’s 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 fiscal year.

Insider Activity at Copart

In related news, CEO Jeffrey Liaw sold 26,213 shares of the stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $33.18, for a total value of $869,747.34. Following the transaction, the chief executive officer directly owned 79,532 shares of the company’s stock, valued at $2,638,871.76. This trade represents a 24.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 9.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on CPRT. Robert W. Baird set a $48.00 price target on shares of Copart and gave the stock an “outperform” rating in a report on Friday, February 20th. Jefferies Financial Group set a $45.00 price objective on shares of Copart in a report on Friday, May 22nd. Barclays reaffirmed an “underweight” rating and set a $32.00 price objective (down from $33.00) on shares of Copart in a research report on Monday, February 23rd. Zacks Research upgraded shares of Copart from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Weiss Ratings lowered Copart from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Copart presently has an average rating of “Hold” and a consensus target price of $44.50.

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.