5,916 Shares in Copart, Inc. $CPRT Purchased by Bourgeon Capital Management LLC

Key Points

• Bourgeon Capital Management LLC purchased 5,916 shares of Copart, Inc. for approximately $290,000 during the second quarter.
• As of recent filings, hedge funds and institutional investors own 85.78% of Copart’s stock, with significant stakes held by companies like Vanguard and Nuveen.
• Copart reported a quarterly earnings beat of $0.41 per share, exceeding analysts' expectations, and has a consensus rating of "Moderate Buy" with an average price target of $54.50.

Bourgeon Capital Management LLC acquired a new position in Copart, Inc. (NASDAQ:CPRT - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,916 shares of the business services provider's stock, valued at approximately $290,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CPRT. Nuveen LLC purchased a new stake in Copart in the first quarter worth about $267,723,000. Fiera Capital Corp grew its holdings in Copart by 195.6% in the first quarter. Fiera Capital Corp now owns 3,992,610 shares of the business services provider's stock worth $225,942,000 after purchasing an additional 2,642,100 shares during the period. PineStone Asset Management Inc. grew its holdings in Copart by 56.4% in the second quarter. PineStone Asset Management Inc. now owns 6,407,471 shares of the business services provider's stock worth $314,415,000 after purchasing an additional 2,310,067 shares during the period. Amundi grew its holdings in Copart by 32.5% in the first quarter. Amundi now owns 9,380,026 shares of the business services provider's stock worth $531,256,000 after purchasing an additional 2,299,192 shares during the period. Finally, Vanguard Group Inc. grew its holdings 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 worth $5,900,295,000 after purchasing an additional 2,134,890 shares during the period. Hedge funds and other institutional investors own 85.78% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at Copart

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

Copart Stock Down 0.6%

Shares of Copart stock opened at $44.60 on Tuesday. The company has a market cap of $43.13 billion, a price-to-earnings ratio of 27.88 and a beta of 1.03. The company's 50 day moving average is $47.09 and its 200 day moving average is $51.85. Copart, Inc. has a twelve month low of $44.47 and a twelve month high of $64.38.

Copart (NASDAQ:CPRT - Get Free Report) last issued its quarterly earnings data on Thursday, September 4th. The business services provider reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.04. The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.14 billion. Copart had a net margin of 33.41% and a return on equity of 18.17%. The firm's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.33 earnings per share. Sell-side analysts expect that Copart, Inc. will post 1.57 EPS for the current fiscal year.

About Copart

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.

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