72,240 Shares in Copart, Inc. $CPRT Bought by Annex Advisory Services LLC

Key Points

• Annex Advisory Services LLC acquired 72,240 shares of Copart, Inc. ($CPRT), valued at approximately $3.5 million, during the second quarter, reflecting a growing interest from institutional investors.
• Copart reported a profit of $0.41 EPS for the last quarter, exceeding estimates of $0.37, while revenues reached $1.13 billion, slightly below expectations.
• Stock analysts have mixed ratings on Copart, with HSBC upgrading it to a "strong-buy" and setting a target price of $62.00, while Stephens lowered their target to $46.00, suggesting varied market perceptions.

Annex Advisory Services LLC purchased a new position in shares of Copart, Inc. (NASDAQ:CPRT - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 72,240 shares of the business services provider's stock, valued at approximately $3,545,000.

Several other institutional investors have also recently added to or reduced their stakes in CPRT. Vanguard Group Inc. increased its stake in shares of Copart by 2.1% during the 1st 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. grew its holdings in shares of Copart by 3.3% during the 1st quarter. Principal Financial Group Inc. now owns 39,409,377 shares of the business services provider's stock worth $2,230,177,000 after purchasing an additional 1,249,687 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Copart by 15.9% during the 1st quarter. JPMorgan Chase & Co. now owns 15,345,768 shares of the business services provider's stock worth $868,417,000 after purchasing an additional 2,106,656 shares during the period. Invesco Ltd. grew its holdings in shares of Copart by 7.5% during the 1st quarter. Invesco Ltd. now owns 9,490,237 shares of the business services provider's stock worth $537,052,000 after purchasing an additional 658,329 shares during the period. Finally, Amundi grew its holdings in shares of Copart by 32.5% during the 1st 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. Institutional investors and hedge funds own 85.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CPRT. Stephens decreased their target price on Copart from $50.00 to $46.00 and set an "equal weight" rating for the company in a report on Friday, September 5th. Robert W. Baird decreased their price target on Copart from $64.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday, July 17th. Hsbc Global Res upgraded 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 Copart and gave the stock a "buy" rating in a report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $54.50.

Copart Stock Performance

Shares of NASDAQ:CPRT traded down $0.38 during midday trading on Tuesday, reaching $45.00. The company had a trading volume of 5,474,662 shares, compared to its average volume of 5,965,827. The company has a fifty day simple moving average of $47.19 and a two-hundred day simple moving average of $52.12. The firm has a market cap of $43.51 billion, a price-to-earnings ratio of 28.13 and a beta of 1.03. Copart, Inc. has a 1-year low of $44.96 and a 1-year high of $64.38.

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

Insider Buying and Selling

In related news, Director Thomas N. Tryforos sold 228,840 shares of the company's stock in a transaction dated Monday, September 15th. The stock was 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 Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey Liaw sold 24,088 shares of the firm's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $46.43, for a total value of $1,118,405.84. Following the sale, the chief executive officer directly owned 31,527 shares in the company, valued at approximately $1,463,798.61. This represents a 43.31% decrease in their position. The disclosure for this sale can be found here. Insiders own 9.68% of the company's stock.

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.