Greenleaf Trust Has $740,000 Position in Copart, Inc. $CPRT

Greenleaf Trust lowered its position in Copart, Inc. (NASDAQ:CPRT) by 16.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,075 shares of the business services provider’s stock after selling 2,876 shares during the quarter. Greenleaf Trust’s holdings in Copart were worth $740,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Copart by 2.1% in the first quarter. Vanguard Group Inc. now owns 104,263,922 shares of the business services provider’s stock valued at $5,900,295,000 after acquiring an additional 2,134,890 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Copart by 3.3% in the first quarter. Principal Financial Group Inc. now owns 39,409,377 shares of the business services provider’s stock valued at $2,230,177,000 after acquiring an additional 1,249,687 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Copart by 15.9% in the first quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider’s stock valued at $868,417,000 after acquiring an additional 2,106,656 shares during the last quarter. Invesco Ltd. lifted its stake in Copart by 7.5% in the first quarter. Invesco Ltd. now owns 9,490,237 shares of the business services provider’s stock valued at $537,052,000 after acquiring an additional 658,329 shares during the last quarter. Finally, Amundi lifted its stake in Copart by 32.5% in the first quarter. Amundi now owns 9,380,026 shares of the business services provider’s stock valued at $531,256,000 after acquiring an additional 2,299,192 shares during the last quarter. Institutional investors and hedge funds own 85.78% of the company’s stock.

Copart Stock Performance

NASDAQ:CPRT opened at $44.57 on Friday. Copart, Inc. has a 52 week low of $44.23 and a 52 week high of $64.38. The firm has a market cap of $43.13 billion, a price-to-earnings ratio of 27.86 and a beta of 1.03. The firm’s 50-day simple moving average is $47.00 and its 200 day simple moving average is $51.69.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, September 4th. The business services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. Copart had a net margin of 33.41% and a return on equity of 18.17%. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.14 billion. During the same period last year, the firm earned $0.33 earnings per share. Copart’s revenue for the quarter was up 2.9% compared to the same quarter last year. Sell-side analysts anticipate that Copart, Inc. will post 1.57 EPS for the current year.

Insider Transactions at Copart

In other Copart news, CEO Jeffrey Liaw sold 24,088 shares of the firm’s stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $46.43, for a total value of $1,118,405.84. Following the transaction, the chief executive officer directly owned 31,527 shares of the company’s stock, valued at $1,463,798.61. This trade represents a 43.31% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas N. Tryforos sold 228,840 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $47.54, for a total transaction of $10,879,053.60. The disclosure for this sale can be found here. 9.68% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CPRT shares. Hsbc Global Res raised shares of Copart from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 4th. Stephens dropped their price objective on shares of Copart from $50.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Friday, September 5th. Robert W. Baird dropped their price objective on shares of Copart from $64.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, July 17th. Finally, HSBC set a $62.00 price objective on shares of Copart and gave the company a “buy” rating in a research report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Copart presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.50.

Copart Profile

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.